Uber Technologies Inc. has moved up in its industry, thanks to the three investment firms from Boston that helped the company to attain its new-found status as one of the most prestigious tech startups in the world.

Uber was the recipient of $1.2 billion in cash, making its total worth come in at around $17 billion. The Uber car service is now one of the world's most valuable tech startups. The funds came from Fidelity Investments, Summit Partners, Wellington Management Co. and several other well-known investment companies.

This move has made Uber comparable to Alcoa Inc., a global aluminum company with $16.82 billion in capital or The Clorox Co., a multinational consumer products creator with $11.5 billion in capital. Travis Kalanick, chief executive of Uber, announced that the money will be used toward expanding the company's service. A boat ferry service within the periphery of Boston Harbor was recently launched by Uber in Boston. The company currently operates in 128 cities in 37 countries worldwide.

Joan Miller, a Summit Partners spokeswoman, has said that Uber is one of the fastest growing companies in today's economy. It is speculated that the Uber deal will be the second biggest investment among venture-backed companies in the U.S. No comment was given by firms Fidelity and Wellington on the matter.

However, Uber has a pending lawsuit in Boston. The petition, filed by local cab companies in Boston, accuses Uber of operating an unlawful taxi enterprise. A similar protest will be conducted by cab drivers in London, where approximately 10,000 cars are planned to participate in a formal protest. Similar objections have been heard as far as Italy and France.

John Boit, the anti-Uber campaign spokesman, has said that Uber tries to operate in a legal gray area. Boit said that Uber wants to run a transportation company but does not want to shoulder the major expenses required to put up the business.

Apart from Boston, other cities are also studying whether or not to take control of Uber, Sidecar, Lyft and other services, offering alternatives to the taxi industry. Uber's business hopes could significantly change depending on the results of the litigation.