Saudi Arabia is injecting $3.5 billion to Uber, keeping its valuation unchanged at $62 billion.

The significant cash infusion gives Saudi Arabia's sovereign wealth fund a seat in the global transportation company's board of directors.

Considered by Fortune as "one of the largest funding rounds by a tech company in recent history," the investment comes at a time when "funding for new tech companies has been slowing in recent months" while regarding over-valuation among tech startup firms rig many investors, LA Times reports. The San Francisco-based firm, however, succeeded in raising billions of dollars with its ambitious global expansion as its main goal.

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Uber's operations now extend to nine Middle Eastern countries, making it one of its fastest-growing markets. 

Saudi Arabia now joins the force of several investors who already poured in over $14 billion since the company was founded in 2009. Uber now boasts of cash stash amounting to $11 billion and ready credit to bank roll its expansion.

Yasir Al Rumayyan, the Saudi fund's managing director, is slated to join such high profile directors like Arianna Huffington and David Plouffe on company's board.

Huffington became a board member last April while Plouffe, who unsuccessfully ran against President Obama in 2008, joined the board last year.

Uber's politically-savvy directors are expected to keep the company sailing despite Uber's fight tough fight against governments and taxi drivers that consider company either as a threat to public safety or their businesses.

On-demand ride services is getting more and more popular. In fact, Uber's regional competitors also obtained significant investments this year.  Take the case of China-based Didi Chuxing, which got $1 billion from Apple while General Motors placed half a billion dollars into San Francisco's Lyft.

TagsUber, Saudi Arabia