India Inc India Inc: Thursday, 12 January 2017 07:02

Uber to invest in Indian start-ups

American taxi aggregator Uber has unveiled plans to invest $50,000 each into three Indian start-ups — SeekSherpa, LeanAgri and Ambee.

The companies were selected as part of Uber’s India-wide competition to find the country’s “brightest start-ups”. As part of the investment, the firm will invite these companies to San Francisco, where they will get advice and guidance from top Uber executives and other venture capitalists, the company said in a statement.

The three were chosen from a field of more than 5,000 who submitted their ideas via a tap on the Uber app. Of those, 100 were shortlisted by angel investors, mentors and venture capitalists.

Amit Jain, president, Uber India, said: “UberPitch has underscored the depth and breadth of the smart ideas that Indian entrepreneurs are generating. All the companies showed a commitment to tackling some really hard problems.”

India Investment Journal’ has been tracking this issue

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