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Careem to invest $150m in food delivery service

CareemFood could launch as early as September, according to reports

Careem to invest $150m in food delivery service
Careem is seeking to launch its food delivery service.

Dubai's Careem intends to spend $150m to launch its own food delivery service.

The service could launch as early as September, Reuters reports.

Quoting sources familiar with the situation, Reuters said that Careem is in talks with investors to raise as much as $150m to finance the launch of CareemFood as part of an existing fundraising round.

In February the company acquired online restaurant listing platform RoundMenu as part of the expansion plans.

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