• Uber Technologies Inc's (NYSE: UBER) European rival, Bolt Technology OU, doubled its valuation to $4.8 billion (€4 billion) after raising money to finance a grocery-delivery service, aiming to capitalize on the pandemic recovery, Bloomberg reported.

• Bolt, which boasts 75 million customers, raised €600 million from investors, including Sequoia Capital and Tekne Capital Management, to finance a 15-minute grocery delivery service called Bolt Market in 10 European countries few months.

• Bolt operates in 45 countries in Europe and Africa. It is likely to launch the grocery delivery service in the Baltics, Central Europe, Sweden, Portugal, Croatia, and Romania.

• Bolt aims for affordable and pollution-free urban travel via on-demand transport.

• The budding grocery delivery business witnessed the debut of multiple players amid the pandemic, fighting for market share in major European cities, Forbes reports.

• Meanwhile, food delivery firms like Deliveroo PLC (OTC: DROOF) remain highly competitive, and Bolt continues to compete with Uber in the ride-hailing space.

• Investors valued Turkey's Getir at .5 billion in June, CNBC reports.

• Price action: UBER shares closed higher by 0.06% at $43.49 in the market session on the last check Monday.

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