Sun.
Jul 25
2021

Welcome to NEO’s weekly tech monitoring. Here are this week’s key developments from the food and mobility tech industries.

  • Uber is partnering with prescription delivery service ScriptDrop for prescription deliveries. Pharmacies using ScriptDrop will deliver medications to customers through Uber, which will be the default delivery service for ScriptDrop pharmacies in 37 states and will eventually expand to others. (The Verge)
  • Uber’s use of facial recognition technology for a driver identity system is being challenged in the U.K., where two groups representing workers have called to suspend the ride-hailing giant’s use of B2B facial recognition, after finding multiple cases where drivers were mis-identified and went on to have their licence to operate revoked. (Tech Crunch)
  • China’s Didi leans towards New York IPO. China’s top ride-hailing firm Didi Chuxing is leaning toward picking New York over Hong Kong for its initial public offering (IPO), eyeing a valuation of at least $100 billion via the float. (Reuters)
  • Tinder will soon let you get a Lyft ride for your date. Tinder is partnering with Lyft to offer the ability to gift rides to dates without having to leave the Tinder app. It’s a small convenience if you already have the Lyft app downloaded, but it’s one less reason to switch your focus away from your match and to another app. (The Verge)
  • A top UK fund has refused to invest in Deliveroo amid city concern over riders rights. Aviva Investors cites lack of basic workers’ rights as an ‘investment risk’ ahead of flotation. (The Guardian)
  • Meituan, one of the worlds largest online and on demand delivery platforms, warned it may continue to post operating losses for several quarters after reporting its fastest pace of sales growth in a year, underscoring the cost of expanding into newer arenas like online groceries. (Bloomberg)
  • US delivery app goPuff has announced it has raised $1.15bn in new funding, more than doubling its valuation to $8.9bn, as investors continue to pile into the booming last-mile delivery sector. The deal brings 2021 investment in US grocery and convenience goods start-ups so far to more than $1.7bn, according to PitchBook data, eclipsing the $1.3bn poured into the sector last year as demand soared during coronavirus lockdowns. (FT)
  • Instacart may delay its IPO until late 2021 after reportedly being prepped for the move in early 2021. According to a Thursday afternoon report by The Information, company executives are worried that buyers of its stock could be worried about the company’s fortunes once the pandemic is over. (Yahoo Finance)
  • Zomato Pvt, an Indian food delivery startup backed by Jack Ma’s Ant Group, is planning to file the draft prospectus by April for an IPO that could raise about $650 million, according to people familiar with the matter. (The Economic Times)
  • Arrival, a British startup that produces zero-emission public transit vehicles, has listed on the Nasdaq with a current valuation of $13bn, making it one of the largest-ever listings of a UK tech company. The company’s founder, Russian telecoms tycoon and former deputy minister Denis Sverdlov, owned a 76% stake in Arrival at the point of IPO, making his share worth $9.8bn. (Sifted)
  • Mercedes-Benz is about to unveil a new flagship electric sedan model with a market-leading battery range, following through on its pledge to compete in the luxury electric-vehicle segment with top technology. (Bloomberg)
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