Venture capitalist’s appetite for fast-growing but lossmaking tech companies has not diminished. Headed by Abu Dhabi sovereign wealth fund Mubadala, Spain’s biggest delivery app Glovo raised US$167 million. Valued over US$1 billion and operating in 26 countries, the 4-year old service delivers ‘on-demand’ in 30 minutes via 50,000 couriers. Initially focused on food delivery, the service partnered with Carrefour to provide a fast home delivery of non-food items like groceries or medicine.