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Uber Rival Bolt Lifts Valuation to $4.8 Billion in Delivery Push

relates to Uber Rival Bolt Lifts Valuation to $4.8 Billion in Delivery Push

Source: Bolt Technology

Bolt Technology OU, which competes with Uber Technologies Inc. in Europe and Africa, doubled its valuation to 4 billion euros ($4.8 billion) after raising money to finance a grocery-delivery service.

The Estonia-based company raised 600 million euros from investors including Sequoia Capital and Tekne Capital Management to finance a 15-minute grocery delivery service called Bolt Market in 10 European countries over the next few months, it said in a statement.