By Alexander Cornwell
DUBAI (Reuters) - Middle East ride-hailing app Careem is in talks to raise as much as $150 million from existing investors to launch its food delivery business as early as September, according to a source with direct knowledge of the matter.
It will compete against UberEats, Deliveroo, Zomato, and Talabat which already operate in the region.
The source did not say which investors Careem were in talks with.
Careem's investors include German carmaker Daimler, China's largest ride-haling firm DiDi Chuxing, and Saudi Arabian billionaire Prince Alwaleed bin Talal's Kingdom Holding.
There is strong demand for food delivery in the Middle East, particularly during the summer months in the Gulf where temperatures can soar above 50 degrees Celsius (122°F) in the summer.
(Reporting by Alexander Cornwell; editing by Jason Neely)
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