UberPITCH Winners Announced; Uber to Invest $50,000 in Each Startup

Global ride-hailing firm Uber today announced winners of an India-wide startup contest, UberPITCH, and will invest USD 50,000 in each of them. The winning companies are SeekSherpa, LeanAgri and Ambee, in the areas of e-commerce, agriculture and health respectively. Also read: BHIM UPI App Records 10 Million Downloads: PM Narendra Modi

With an investment of USD 50,000 in each of these companies, they plan to invite them to San Francisco, where they will get advice and guidance from top Uber executives and other venture capitalists, Uber said in a statement here. The three were selected from more than 5,000 who submitted their ideas through Uber app, it added.Also read: Maha CM Devendra Fadnavis Rolls Out Largest Public Wi-Fi Service in Mumbai

Of those 100, were shortlisted and subject to a grilling from expert investors, mentors and venture capitalists, it added.

"We were overwhelmed by the response to UberPITCH, which underscored the depth and breadth of the smart ideas that Indian entrepreneurs are generating..." Amit Jain, President, Uber India, said. Also read: Best Apple iPhone Yet to Come: Tim Cook on Tenth Anniversary

During his recent visit to India in December 2016, Travis Kalanick, Uber's co-founder and CEO, met some of the entrepreneurs and had announced the planned investment of USD 50,000 in the winners.