Deliveroo raising $835m in funding round led by Amazon
Deliveroo on Friday announced it is looking to raise US$575 million ($835 million) in a Series G funding round, bringing its total investment to date to US$1.53 billion ($2.22 billion).
Amazon is set to be the largest investor in the round, alongside existing investors T. Rowe Price, Fidelity Management and Research Company and Greenoaks.
The food delivery company said it will use the capital to grow the tech team at its UK headquarters, expand its delivery reach to add new customers and continue to innovate its delivery-only kitchen concept, Deliveroo Editions.
The company also plans to develop new products to give customers a more personalised experience, increase support for its restaurant partners and provide riders with new tools for flexible and well-paid work.
“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,” Will Shu, founder and CEO of Deliveroo, said in a statement about the funding round.
Shu said he was looking forward to working with Amazon.
“Amazon has been an inspiration to me personally and to the company, and we look forward to working with such a customer-obsessed organisation.
The company said the investment will benefit restaurants, by helping them grow their business, and riders, by giving them more work. Deliveroo has been a leader in offering perks and protections in the emerging gig economy.
Deliveroo in Australia last year partnered with Whitelion to help long-term unemployed young people into work, and collaborated with Open Classrooms to give riders free access to hundreds of online courses for professional development.
“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,” said Doug Gurr, Amazon UK country manager.
“Will and his team have built an innovative technology and service, and we’re excited to see what they do next.”