On-demand food delivery service, Deliveroo, has announced a US $275 million investment following 400% growth since November.
The Series E investment is being led by Bridgepoint, existing investor DST Global, and General Catalyst with participation from existing investor Greenoaks Capital.
The new funds will be used to expand the service in both new and existing markets, as well as provide further investment in projects such as RooBox, a remote kitchen initiative, which gives restaurants access to delivery-only kitchens in key locations, accelerating geographic expansion.
Deliveroo founder and CEO, Will Shu said: “After seeing strong growth in the markets we launched in November, our new focus is to drive further innovation in food delivery. In particular, I’m excited about exploring completely new ways to solve the hardest problems restaurants face when offering delivery.
“RooBox is the first illustration of this approach, and innovations like these are at the heart of our mission. We’re proud and honoured to have the support of Bridgepoint, DST Global and General Catalyst in this endeavour.”
Since its Series D round in November, Deliveroo has launched in 29 new cities, added an additional 9,000 new restaurant partners, and created opportunities for 6,500 riders, while maintaining a 30-minute average delivery time.
The company has hit key milestones such as expanding its service to cover breakfast, quick lunch and corporate ordering, and striking deals with major partners such as PizzaExpress.
Deliveroo, founded in 2013 by Will Shu and Greg Orlowski, works with brands and independent restaurants to deliver food to customers.
Headquartered in London, the company operates in 84 cities across 12 countries.
