Image: Rami Al-zayat via Unsplash
Welcome to NEO’s weekly tech monitoring. Here are this week’s key developments from the food and mobility tech industries:
- Indian food delivery app Swiggy is closing an $800 million funding round from investors including Falcon Edge Capital LP and Goldman Sachs. India’s consumer startups have thirved as the country’s internet user base swells and smartphone users are estimated to reach 1 billion in the coming years. (Bloomberg)
- Grocery-delivery service Instacart and takeout delivery service DoorDash plan to launch their own credit cards to retain users after the pandemic. Instacart has chosen JPMorgan to issue its reward card, while DoorDash received partnership offers from more than 10 large banks and fintech firms. (Wall Street Journal)
- Didi, the Chinese vehicle for hire company, is reportedly launching its own driverless vehicle manufacturing project. The reported initiative follows on earlier plans announced by Chinese Internet giants Xiaomi and Baidu to manufacture their own vehicles. (China Money Network)
- The administration of U.S. President Joe Biden has called for $100 billion in new consumer rebates and $15 billion to build 500,000 new electric vehicle charging stations, as part of its $174 billion proposal to support electric vehicles. The new EV rebates, part of a multi-trillion dollar infrastructure and jobs proposal, could be a big boost to U.S. automakers selling zero-emission models. (Reuters)
- Southeast Asian super app Grab announced it will create an endowment fund with an initial capital of US $275 million to support its drivers and delivery and merchant partners, as well as regional communities. (Tech in Asia)
