Food Delivery Service Deliveroo Receives €515 Million

Food delivery service Deliveroo has received a massive €515M investment in its Series G round, led by tech giants Amazon. The funding represents a significant boost for Deliveroo in their quest to be the go-to food providers ahead of the likes of Uber Eats and Just Eat.

Amazon Wants a Slice of the Action

Founded in 2013, the London-based startup has become one of the most popular food delivery services in the world. This has prompted e-commerce giants Amazon to get on board with the company with this half-a-billion euros investment.

Alongside lead investor Amazon, existing investors T. Rowe Price, Greenoaks, and Fidelity Management & Research Company also participated in the funding round. This financing round takes the total Deliveroo has raised to date to €1.37 billion.

Deliveroo operates in 14 countries across Europe and Asia, delivering food from over 80,000 restaurants and takeaways via the 60,000 riders employed by the service. Through the mobile app, users can see what restaurants are signed up to Deliveroo in their area, place their order, and see where their food is in real-time on a map.

Deliveroo Plans Food Sector Innovation

Deliveroo intends to use the fresh capital to continue to improve its service. Co-founder and CEO, Will Shu, said: “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.”

Interestingly, the company has announced that it plans to use the financing to bring about innovations in the food sector. Deliveroo had previously announced plans to open delivery-only kitchens called ‘Editions’, and this investment will help to realise this goal. These kitchens will be able to cook delivery meals faster and more cost-efficiently. Deliveroo hopes that this will encourage small businesses to open up kitchens where a specific cuisine is in high demand.

Time will tell if these plans come to fruition. However, with the added financial power of Amazon, we can expect big things from Deliveroo in the coming years.

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