- London-based food delivery startup Deliveroo has closed its latest funding round with an extra $98 million (£74.3 million) in funding.
- The round brings Deliveroo’s total funding close to $1 billion (£757 million), making it one of the UK’s best funded startups.
- Deliveroo CEO Will Shu hinted in a recent interview with Business Insider that an initial public offering was on the cards.
British food delivery startup Deliveroo has added an additional $98 million (£74.3 million) to the existing $385 million (£285 million) it raised from investors in September, bringing the round’s total to $482 million (£365 million).
Existing investors T. Rowe Price and Fidelity led the Series F round, with DST Global, General Catalyst, Index Ventures, and Accel Partners also taking part. The firm’s valuation remains more than $2 billion (£1.51 billion).
Total investment in the London-based startup, which employs over 1,000 people worldwide, now stands at around $955 million (£723 million). As of November, the firm operates in more than 200 cities globally.
Deliveroo said in a statement that it planned to invest in three areas: its pop-up shipping crate kitchens for restaurants, tech such as artificial intelligence, and entering new markets.
Will Shu, CEO and founder of Deliveroo said: “The next exciting phase of the UK restaurant industry will see more power being handed to the consumer, with restaurants better able to cater for consumers’ needs because they have richer data to work with.
“This investment will help to accelerate this process, bringing more people more choice, healthier options and new food. As our technology improves deliveries will become faster and our selection on offer will become more varied.”
Shu also suggested Deliveroo’s expansion was good news for the economy because “it will help to create work in restaurants as well as well-paid, flexible work for our riders.”
Shu recently told Business Insider in an interview that an IPO would be “somewhat logical” for his firm – not least because the two leader investors in the Series F round are public market investors.
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