Careem Invests 100M Dollars in Research & Development During Next Five Years

The app-based cab booking service, Careem, is planning to expand its services in other countries. Careem Invests 100M Dollars in Research & Development During Next Five Years. Under the plans, the company will expand its teams in the UAE and Pakistan. It will also open new R&D centres in Egypt and Germany as well.

Careem Invests 100M Dollars in Research & Development During Next Five Years

“Careem is committed to continue innovating to offer the region a safe and reliable transportation option. In order to do that, we have to double-down on R&D, which is why we have announced this investment today,”

said cofounder Magnus Olsson.

By expanding its services in Pakistan, Careem add an additional 50 engineers from technology solutions company VentureDive to improve the company’s application. Careem recently launches economy car service in Lahore. The launch of the economy cars provides the users with an option in the app to choose from amongst the Economy Car or the Business Car.

For More Information Please Read: Careem Launches Economy Cars in Lahore

However, the R&D centre in Germany aims to provide the company with access to the European start-up scene and assist in expanding its global presence.

Recently Careem, the company that raised $60 million last year, has declared its acquisition ofSavaree, Lahore’s home grown pioneer of car hailing services. This is a smart move bySavaree considering the entry of the taxi giant Uber in Pakistan.

Also Read: Careem acquires Savaree to take on Uber in Pakistan

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