Delivery start-up Deliveroo raises £74.3m – just two months after bagging £285m
Maintaining a valuation of more than $2bn, the Startups-100 ranked business has now started working with pubs and bars that don't serve food
UK food delivery start-up Deliveroo has raised an extra £74.3m in its latest funding round, topping up its £285m Series F September raise to hit £365m.
Founded by Young Guns William Shu and Greg Orlowski and launched in London in 2013, Deliveroo has maintained a valuation of more than $2bn, and will use the extra cash to invest in pop-up shipping crate kitchens for restaurants and artificial intelligence tech.
Existing investors T. Rowe Price and Fidelity led the Series F round, with DST Global, General Catalyst, Index Ventures, and Accel Partners also taking part.
Operating in more than 200 cities worldwide, everywhere from Singapore to Paris to Dubai, the Startups-100 ranked business has recently added Cannes to its impressive list of bases – and will continue to expand into new markets.
In another recent move, the delivery start-up has started working with bars that don’t serve food to their customers – allowing drinkers to order in their chosen take-away to the pub they’re in.
Currently trialing the service with 20 pubs, if considered a success, it will see a nationwide roll-out in 2018.
Now employing more than 1,000 people worldwide, a landmark legal victory for the firm last week has seen its fleet of 27,000 riders become officially classified as self-employed.
On Friday, a report from Deloitte named Deliveroo as the fastest-growing tech start-up in the UK – with record revenue growth of 107,1117% since 2013.
How much money has Devliveroo raised to date?
Deliveroo has raised nearly $1bn (£757m) across seven rounds so far:
- Series A round worth £2.75m in June 2014
- Series B round worth £16.55m in January 2015
- Series C round worth $70m in July 2015
- Series D round worth $100m in November 2015
- Series E round worth $275m in August 2016
- Series F round worth £285m in September 2017
- Additional funding round worth £74.3m in November 2017
Will Shu, CEO and founder of Deliveroo said:
“The next exciting phase of the UK restaurant industry will see more power being handed to the consumer, with restaurants better able to cater for consumers’ needs because they have richer data to work with.
“This investment will help to accelerate this process, bringing more people more choice, healthier options and new food. As our technology improves deliveries will become faster and our selection on offer will become more varied.”