Deliveroo raises $100m to take restaurant food delivery global
On-demand delivery service has announced launches in Dubai, Hong Kong, Singapore, Sydney and Melbourne
On-demand delivery service Deliveroo has today announced that it has closed a spectacular $100m Series D investment in a deal led by DST Global and Greenoaks Capital, with participation from existing investors Accel, Hummingbird Ventures and Index Ventures.
Launched in London in 2013 by Growing Business Young Guns William Shu and Greg Orlowski, Deliveroo partners with restaurants and chains to enable customers to have restaurant quality meals delivered directly to their home or office within approximately half an hour.
Since the start of 2015 the start-up has expanded its service to 50 cities across 12 countries, and says it daily orders have grown tenfold.
Following a $70m Series C round in July of this year and a £16.5m Series B funding round in January, Deliveroo’s latest finance will be used to fuel its ambition to become the number one service for on-demand restaurant food delivery.
To coincide with the investment news, the company has also marked its first expansion outside of Europe with the launch of new operations in five major global cities; Dubai, Hong Kong, Singapore, Sydney and Melbourne, to enable local consumers to order quality food from chains and independents through the website or app.
Shu said: “We’ve experienced extraordinary demand for our service as consumers want high-quality food delivered quickly and restaurants seek a new significant source of revenue.
“It’s been phenomenal to see the business quickly expand from London to European capitals and some of the most exciting cities in Asia Pacific and the Middle East.”
Yuri Milner, DST Global founder, commented:
“Shu and the Deliveroo team are dedicated to providing a great food delivery experience for their customers, restaurant partners and drivers. We hope this new round will support their continued growth.”