New investment round could put Uber valuation at $62.5 billion

An Uber vehicle cruises Manhattan in New York City.
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Uber is closing in on its goal of raising $2.1 billion in venture capital, according to The New York Times.

People briefed on the company's plans told The Times this will mark the San Francisco-based company's single largest investment round to date. Once this round is completed, the total investment will value Uber at $62.5 billion, ranking it as the world's most valuable private start-up, according to the Times. Bloomberg News first reported the company's potential valuation.

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Uber has also set aside at least $1 billion toward growth in China as the start-up continues working to establish itself against competitors in the Asian market, the Times reported.

Uber declined CNBC's request for comment.

Read the full Times report on Uber here.