Amazon-backed online food delivery company Deliveroo has secured over $180m (£129m) in a funding round which valued the business at more than $7bn.
The Series H round, led by Durable Capital Partners LP and Fidelity Management & Research Company LLC, comes ahead of the company’s plans to go public later this year.
The London-based startup will look to use the funding to help it expand its ‘Editions’ delivery-only kitchen sites around the world; expand its on-demand grocery service; expand its ‘Plus’ subscription offering; offer restaurants its ‘Signature’ service, which enables customers to order via a restaurant’s own website; and launch new initiatives for riders.
“At Deliveroo we are always focused on developing the best proposition for consumers, riders and restaurants,” said Will Shu, Founder and CEO of Deliveroo. “This investment will help us to continue to innovate, developing new tech tools to support restaurants, to provide riders with more work and to extend choice for customers, bringing them the food they love from more restaurants than ever before. We are really pleased our shareholders see the opportunity and growth potential ahead of us.”