Careem

Business focus

AI, Large Models & AI Chips

Description

Careem was founded in Dubai in 2012 by Mudassir Sheikha and Magnus Olsson as a ride-hailing service, becoming the region's first tech unicorn. Uber acquired it in 2019 for $3.1 billion — a record deal for a Middle Eastern startup. From April 2020 the Careem Super App added food delivery, micro-mobility, a wallet and fintech services across 80+ cities in nine countries. In 2023, UAE's e& invested $400M for 50.03% of spun-off Careem Technologies.