Share WhatsApp Email 0 SharesSoftBank is in talks with Kitopi to lead a $400 million investment in the Dubai-headquartered cloud kitchen startup, Reuters reported on Wednesday, citing unnamed sources. The Japanese company is looking to invest the money through Vision Fund 2 and has already submitted a proposal to lead the mega-round, noted the report. Both SoftBank and Kitopi declined to comment on the development when contacted by Reuters. Kitopi has raised about $90 million in disclosed funding to date – including $60 million Series B in February 2020. Food delivery giants, including Delivery Hero and Deliveroo, also continue to invest substantially in the space in the Middle East.

Source: The North Africa Journal June 07, 2021 03:00 UTC