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Careem planning to spend $150 million to launch food delivery business - sources

Reuters  |  DUBAI 

By Alexander CornwellDUBAI (Reuters) - 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 two sources with direct knowledge of the matter.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.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, ...

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First Published: Sun, July 08 2018. 21:04 IST