Dubai-based ride-hailing company Careem, has recently acquired RoundMenu venturing into the food-delivery realm via the the restaurant listing and reservation platform. Careem have not disclosed the sum which they paid for RoundMenu.
RoundMenu has raised USD$3.1 million in funding since its launch back in 2012. RoundMenu was first funded and launched by HoneyBee Tech Ventures, followed later by other institutional investment from BECO Capital, Horeca Trade and Middle East Venture Partners.
Ihsan Jawad, partner at HoneyBee Tech Ventures said in an interview with Arab News, “I can only say that it was a good outcome for all parties after five years of seeding this venture. It’s particularly good for the ecosystem to see acquisitions emerging by local tech players.”
Careem on the other hand has raised more than USD$570 million over six rounds of funding since its launch, also back in 2012. According to some estimates Careem is now valued at more than USD$1.2 billion.
RoundMenu is available in 18 cities across nine Arab countries, including Saudi Arabia, the UAE, and Egypt, according to its website, partly matching Careem’s MENA-wide offering of 90 cities across 13 countries in the broader region.
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