Uber enjoys $2 billion investment surge from China

The ride-sharing service, despite its controversy, has received additional funds from Chinese investors.
Written by Charlie Osborne, Contributing Writer

Uber has revealed the company has received an additional cash injection of almost $2 billion from Chinese investors.

The San Francisco, California-based firm has split up the funding, with the main global entity in receipt of most of the cash. However, as reported by Reuters, there are no specific details on how much individual units received.

An Uber spokesperson has confirmed the investment.

Backers of the company's last funding round include HNA Group, China Taiping Insurance Holdings, Guangzhou Automobile Group, China Life Insurance and investment bank Citic Securities.

Other Chinese investors include China Minsheng Banking, China Vanke and China Broadband Capital.

The ride-sharing service has been mired in controversy since its inception. The company is not without its share of controversies -- such as alleged passenger attacks and a concealed data breach -- and yet is still going strong and revolutionizing the hired ride industry.

See also: Uber fined peanuts in God View surveillance, data breach investigation

Despite protests all over the world and some governments -- including the UK -- attempting to ban Uber, its drivers are now beginning to be recognized as a legal taxi service. In December last year, Seattle's council leaders reportedly voted in favor of allowing Uber drivers to establish a union, and the company was officially legalised in New South Wales, Australia.

In a recent Series B funding round, Uber's chief technology officer Travis Kalanick revealed the company's Chinese unit has been valued at $7 billion.

In July last year, the US firm was valued at $50 billion.

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