Amazon invested $575 million in food delivery Deliveroo
London-headquartered food delivery company Deliveroo has raised $575 million in a sequence Ground of funding led by Amazon, with participation from T Rowe Price, Fidelity Management and Research Company, and Greenoaks.
This takes the company’s whole funding to extra than $1.5 billion on account that its inception in 2012. Though the company hasn’t published a valuation at this round, we do know it was once valued at extra than $2 billion at its collection F round back in 2017, so the company used to already easily into unicorn territory earlier than this trendy cash injection.
Deliveroo is a similar proposition to UberEats, insofar as it provides the transport infrastructure for restaurants of any dimension to provide customers delivery — it saves them from having to hire their very own drivers directly. Through the mobile app, users can see what restaurants are signed up to Deliveroo in their area, place their order there and then, and see where their food is in real-time on a map. The company operates across12 countries throughout Europe, Asia, and the Middle East.
Back in 2017, Deliveroo introduced a new platform for restaurants to open delivery-only kitchens. Called Deliveroo Editions, the setup essentially leverages Deliveroo’s arsenal of data to establish where client demand for specific cuisine is, and then inspire restaurant brands to open up little kitchens near those areas. For restaurants searching to expand, Editions minimize the chance of setting up shop in high priced neighborhoods, as they only have to operate out of small huts geared up with the imperative facilities. Deliveroo then offers the infrastructure, kitchens, advertising and marketing support, software, and fleets of couriers.
The concept helps to spotlight how groups are evolving to help the transport network infrastructure enabled through the likes of Deliveroo — previously, it would have been a whole lot greater challenging to function a delivery-only kitchen, replete with lower overheads, such as this.
And this is partly what the new cash inflow will be used to support — alongside growing its engineering team at its U.K. HQ.
“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,” Deliveroo CEO and co-founder Will Shu.