Deliveroo, which is a London based startup confirmed that it has raised $100 million for its restaurant food delivery service. With this series of funding, the total investment in the company has reached to approximately $200 million.The current round of Series D funding was led by DST Global and Greenoaks Capital along with existing investors
Deliveroo was founded by former investment banker Will Shu and CTO Greg Orlowski in 2013. It aims to partner with premium restaurants that don’t provide delivery. The startup has partnered with more than 5,000 restaurants across the globe. Some of the partners of Deliveroo include the likes of Dishoom, Ping Pong and Dirty Burger, and Michelin-starred Trishna in London.
The idea for this Startup came about after Will Shu transferred from Morgan Stanley’s office in New York to the investment bank’s Canary Wharf office. Upon arriving in London, Will realized that the restaurant deliveries service was very unorganized and not in comparison to New York. Also the food quality being delivered was often comparatively poor and it used to take long time to arrive.
Currently, Deliveroo is present in over 30 UK cities and 20 other international cities. Most of the international cities are in Europe.Yesterday Deliveroo made its first entry into Australasia, launching in Hong Kong, Melbourne,Dubai, , Singapore, Melbourne, and Sydney.The Startup employs 300 people, with about half of those in the UK. In other European cities, they can be found in Amsterdam, Brussels, Paris, Madrid, Barcelona among others.
According to Will Shu, Deliveroo has successfully created a new market for restaurants, drivers, and customers. He believes this is something people really want in the developed world.The latest investment means that Deliveroo is likely to have a valuation in excess of $1 billion , making it the UK’s one of the biggest Startups and putting it alongside some of the big players likes of Shazam, FanDuel.