Published on : Nov 24, 2015
A food delivery app, Deliveroo, has closed its 3rd funding round the year 2015, raising a total of US$195 mn in past 12 months. The firm has raised around US$100 mn in the series D round of funding, which was also the third round.
This round of funding was led by DST Global, headed by Mr. Yuri Milner. Previously, DST Global has also supported Spotify and Airbnb, Twitter, and Greenoaks Capital. Accel, one of the investors of Facebook, was also among the major participants of this round.
Mr. Will Shu, the chief executive of Deliveroo, stated that these investments are likely to boost the expansion of the company to Dubai, Melbourne, Singapore, Hong Kong, and Sydney. This will be the first venture of the company outside Europe, added Mr. Shu, who was a former investment banker and founded Deliveroo together with Mr. Greg Orlowski, a software developer, in 2013.
Deliveroo has also raised funds from its existing investors including Index Ventures and Hummingbird Ventures. On top of its international expansion, this Soho-based company is planning to stimulate its marketing as well as hiring activities in order to make an impactful presence in the current market scenario, which is said to highly competitive.
Hungry House and Just Eat are the main rival companies of Deliveroo. The firm differs from its rivals on account of its functioning strategy. It connects users to high quality eateries, from international food chains and independent restaurants to Michelin-starred enterprises.
The daily orders of Deliveroo have witnessed a hike of 10-fold since Jan. 2015, when the firm started to function in Brighton, marking its first step outside London.