Taxi-sharing app maker Uber has been promised $1 billion in investment from companies including Toyota, Denso, and SoftBank Vision Fund.
The new funds will help accelerate the development and commercialization of its ridesharing services, says Uber in a statement.
Under the terms, Toyota and Denso will together invest $667 million and SVF will invest $333 million, valuing the new “Uber Advanced Technologies Group” entity at $7.25 billion on a post-money basis. [Read more…] about Toyota, Denso, and SoftBank pledge another $1 billion investment for Uber
