Amazon Leads $575 Million Funding In Food Delivery Platform Deliveroo

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Deliveroo

UK based Deliveroo, the food delivery platform has bagged a fresh round of capital which is been led by e-commerce giant Amazon. The Series G financing will see Deliveroo bag $575 million. The existing backers which included T. Rowe Price, Fidelity Management and Research Company and Greenoaks also participated in the round which takes the total amount raised by the firm in the form of funding to over $1.5 billion.

The round of funding which came in 2017 saw Fidelity Management and Research Company and T.Rowe Price lead $482 million in funding. The other notable backers of the firm include the names like DST Global, Index Ventures, Angel Capital Management, H14, and General Catalyst.

Launched in 2012, the firm has a presence in 14 countries which includes U.K., France, Germany and Spain, and — outside of Europe — Singapore, Taiwan, Australia and the UAE where it has partnered with more than 80,000 restaurants. It also claims to be having more than 60,000 people working as the delivery people.

Will Shu, the CEO and co-founder through a statement said, “Amazon has been an inspiration to me personally and to the company, and we look forward to working with such a customer-obsessed organization." He also pointed out that the e-commerce giant has become the largest investor of the company.

Doug Gurr, Country Manager, Amazon UK was quoted as saying that 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."

 

Image Courtesy : thestreet

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