Deliveroo raised $385 million to compete Foodora and Just Eat

Deliveroo raised US$385 million for food warfare. Startup shipping food headquartered in London on Sunday announced the latest funding led by T. Rowe Price Associates and Fidelity Management & Research to expand its services and compete other services such as Delivery Hero's Foodora and Just Eat.

Tinuku Deliveroo raised $385 million to compete Foodora and Just Eat

The latest funding increases Deliveroo's valuation to more than US$2 billion. Deliveroo said the existing investors are DST Global, General Catalyst, Index Ventures and Accel Partners also participate in new funding to improve their position in the company.

Deliveroo was founded by Will Shu and Greg Orlowski in 2013. The latest investment rounds enable them to enter new markets, enlarge technology teams and expand the concept of more specialized decentralized shipping restaurants.

Deliveroo has increased by 60 percent throughout 2016 and operates in more than 150 cities across 12 countries, including Australia, Hong Kong and the United Arab Emirates. Its closest rival is Foodora operated by Germany's Delivery Hero.

Comments