This investment takes Deliveroo’s total raised to $1.53bn since its founding in 2013. It includes money from existing investors Greenoaks, Fidelity Management and T Rowe Price.
Deliveroo was started by William Shu in 2013. It is now one of Europe’s best funded start-ups and operates in the UK, Australia, Belgium, France, Germany, Hong Kong, Italy, Ireland, Netherlands, Singapore, Spain, the United Arab Emirates and Taiwan.
Deliveroo have plans to use this funding to invest directly in their London tech teams, helping the online platform to grow and expanding their clientele.
This investment will also secure Deliveroo’s position in opposition to other food delivery giants, such as Uber Eats and Just Eat. Amazon had previously planned to expand into this market with Amazon Restaurants UK which was closed just 2 years after its opening in 2016. Amazon also already works within the food market with AmazonFresh Grocery but this move will expand their reach into a new food frontier. By investing in Deliveroo, the tech giant secures its place within the market without the risk of its own venture.
Doug Gurr, Amazon UK manager speaks highly of Deliveroo, saying: “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.”
Gurr continues to say that: “Will and his team have built an innovative technology and service, and we’re excited to see what they do next.”
Deliveroo founder, Will Shu, gives Amazon an equally glowing report, saying that “Amazon has been an inspiration to me personally and to the company, and we look forward to working with such a customer-obsessed organisation.”
He hopes that: “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.”