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An Uber spokeswoman said Times Internet, the
digital arm of the Times of India media group, would invest
"well under" one billion rupees ($16 million) in Uber, that is
worth an estimated $40 billion.
"The deal is centered around a commercial marketing arrangement
accompanied by a small investment," Uber said in a statement on
Monday.
Under the agreement, Times Internet will work on promotions to
increase awareness about Uber and also help the U.S.-based taxi
company localize its services for India.
"India is one of our fastest growing markets ... where we are
investing heavily in continued growth," Uber's chief executive
Travis Kalanick said in the statement.
The deal comes at a time when Uber is battling regulatory
ambiguity over how it will continue to operate in India's
capital city, where it was banned following criticism over
screening of its drivers after one of them was accused of rape
in December.
Uber, however, resumed operations in the city after applying for
a radio taxi license in January. Its application is still under
review. Uber currently offers services in 11 Indian cities
including New Delhi.
(Reporting by Aditya Kalra; Editing by Sunil Nair)
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