Middle East ride-hailing app Careem is planning to spend up to $150 million to launch its food delivery business as early as September, according to “informed sources”.
Reuters quoted the “sources” The Dubai-based company is in talks with investors to raise as much as $150 million to finance the launch of CareemFood as part of an existing fundraising round
Careem, the main Middle East rival of Uber Technologies , has been trialing food delivery services after announcing in February it had acquired regional online restaurant listing platform RoundMenu.
CareemFood will be launched in Pakistan as soon as September and then in Egypt, UAE, Saudi Arabia, other Gulf countries.
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