The aim of the funding would help the group expand into new territories, various reports noted.<\/p>\n
Since inception in 2009, Uber has raised $57 million with the most recent activity valued at $37 million and closed in late 2011. Investors have included Menlo Ventures<\/a>, Jeff Bezos<\/a>, Goldman Sachs<\/a>, Benchmark<\/a>, CrunchFund<\/a>, and Troy Carter<\/a>.<\/p>\n The company also has the backing of South African David Frankel<\/a>, founder and managing partner of the Founder Collective, a seed-stage venture capital fund headquartered in New York City and Cambridge. Founder Collective was an early seed investor in Uber.<\/p>\n Frankel was co-founder and CEO of Internet Solutions (IS<\/a>), and was also formerly director of Dimension Data<\/a>.<\/p>\n In its blog post, Uber stressed that initially, availability may be limited during its \u201csecret testing phase\u201d. \u201cWe\u2019re working hard to make additional Ubers available every day.\u201d<\/p>\n \u201cJohannesburg has long been known as Africa\u2019s capital city \u2013 it\u2019s economic heartbeat, cultural soul and a draw to dreamers from across the continent. And no matter what you call the city \u2013 Jozi, Jo\u2019burg, eGoli \u2013 it\u2019s no secret that getting around is not always pleasant; traffic on the M1 can be crushing and drivers are notoriously loose with speed limits.<\/p>\n As part of its entry and future growth plans in the city, Uber had advertised for a Community Manager \u2013 \u201csomeone to lead marketing and be the face of Uber in Jozi\u201d.<\/p>\n Mark Fish and his Uber chauffeur<\/p><\/div>\n R15 million prize for best startup<\/strong><\/a><\/p>\n South African expats eager to come back: study<\/strong><\/a><\/p>\n 10 lies entrepreneurs tell<\/strong><\/a><\/p>\n $2 million VC boost for 6 local startups<\/a><\/strong><\/p>\n SA Seed Engine fires up<\/strong><\/a><\/p>\n![\"Mark](\"http:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2013\/08\/Mark-Fish-Uber.png\")
<\/a>More on startups<\/h3>\n