Uber to invest $50M to set up facility in Hyderabad

Taxi-hailing app Uber will invest USD 50 million in Hyderabad over the next five years to establish a facility that will house hundreds of its employees and would be its biggest international office.

The US-based company today signed an agreement with the Telangana government to set up a "state-of-the-art facility" as it is ramping up India operations.

The company recently expanded its services to seven Indian cities, making it the largest geographical market outside the US.

Earlier this year, Uber decided to accept cash payments in Hyderabad, a first in its global operations.