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Deliveroo tops up Series F with additional $98m

November 27th 2015 Photo by ©Vicki Couchman 07957226911

Deliveroo has raised an additional $98m as part of a Series F round first announced in September.

The on-demand delivery startup made headlines a couple of months ago when it disclosed that it had raised a £285m ($385m) from investors including Fidelity and T Rowe Price.

Other investors who participated in the round include DST Global, General Catalyst, Index Ventures and Accel Partners.

The news comes as Deliveroo, now valued at $2bn, gears up to operate in 200 cities across the globe as of next week.

Will Shu, founder and CEO of Deliveroo, said: “This new investment will help Deliveroo to expand in the UK and around the world, bringing ever more great food directly to people’s doors. This is all thanks to the hard work of our riders, the great restaurants that we work with and our brilliant customers.

“The next exciting phase of the UK restaurant industry will see more power being handed to the consumer, with restaurants better able to cater for consumers’ needs because they have richer data to work with. This investment will help to accelerate this process, bringing more people more choice, healthier options and new food. As our technology improves deliveries will become faster and our selection on offer will become more varied.

“This is great news for the UK economy as it will help to create work in restaurants as well as well-paid, flexible work for our riders.”

According to a company issued statement, the money will also be used to provide more well-paid and flexible work for riders.

Deliveroo closed a £2.7m Series A in June 2014, followed by a $25m (£18.5m) Series B, a $70m (£52m) Series C, a $100m (£74m) Series D and a $275m (£203m) Series E in August last year.