Amazon leads funding round in Deliveroo
May 21, 2019
Amazon is leading a $575m funding round in food delivery company Deliveroo, taking the total it has raised to date to $1.53bn.
Existing investors T Rowe Price, Fidelity Management & Research and Greenoaks also participated in the series G preferred shared funding round.
With this funding, Deliveroo says it will continue to build its service of bringing customers the food they want whenever and wherever they want it, offering more work for riders, and helping restaurants to grow their businesses by reaching new customers.
The new investment will contribute to growing Deliveroo's engineering team at its London headquarters, creating more high-skilled jobs and building on London's growing reputation as a tech hub.
It will also expand its delivery reach to offer its service to new customers and innovate in the food sector, for example through delivery-only super kitchens as well as formats that will help restaurants expand to new areas at a lower cost and lower risk, bringing more choice to local neighbourhoods.
The company plans to develop products to offer a more personalised experience and increase support for restaurant partners, and tools to offer riders flexible work.
"This new investment will help Deliveroo to grow and to offer customers even more choice, tailored to their personal tastes, offer restaurants greater opportunities to grow and expand their businesses, and to create more flexible, well-paid work for riders,” said Will Shu, founder and CEO of Deliveroo. "Amazon has been an inspiration to me personally and to the company, and we look forward to working with such a customer-obsessed organisation. This is great news for the tech and restaurant sectors, and it will help to create jobs in all of the countries in which we operate."
Deliveroo was founded in 2013 by Shu and Greg Orlowski. It works with more than 80,000 restaurants and takeaways, as well as 60,000 riders. It has 2500 employees in offices around the globe. The company operates in over 500 towns and cities across 14 markets, including Australia, Belgium, France, Germany, Hong Kong, Italy, Ireland, Kuwait, Netherlands, Singapore, Spain, Taiwan, UAE and UK.
"We're impressed with Deliveroo's approach, and their dedication to providing customers with an ever increasing selection of great restaurants along with convenient delivery options," said Doug Gurr, Amazon UK country manager. "Will and his team have built an innovative technology and service, and we're excited to see what they do next."
This new investment will be completed in the coming months, subject to customary regulatory approvals.