TOKYO -- Demaecan, a Japanese food delivery company backed by messaging app Line, on Monday said it will raise 80 billion yen ($726 million) in a move likely to intensify the cash-burning battle with its key rival Uber.
Business deals
Japanese food delivery app to raise $726m to battle Uber
Naver, SoftBank unit Z Holdings to inject capital into Demaecan
Japan's Demaecan said it will raise 80 billion yen ($726 million) as its battle with key rival Uber heats up. (Photo by Toshiki Sasazu)
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