Amazon is leading a $575 million funding round for Deliveroo, taking the total the food delivery app has raised to date up to $1.53 billion.
Others taking part in the funding round include existing investors T. Rowe Price, Fidelity Management, and Greenoaks.
Deliveroo is a British company that allows users to order food deliveries from nearby restaurants using an app. Its U.K. rivals include Uber Eats and Just Eat, but the firm operates across 14 markets including Australia, Germany, Hong Kong and the UAE.
Deliveroo said in a press release Friday that it would use the funding to grow its engineering team in its London headquarters and expand its delivery reach to offer its service to new customers. Will Shu, founder and CEO of Deliveroo, said in the press release that the new investment would offer restaurants new opportunities to grow and expand their businesses.
“Amazon has been an inspiration to me personally and to the company, and we look forward to working with such a customer-obsessed organisation,” he said. “This is great news for the tech and restaurant sectors, and it will help to create jobs in all of the countries in which we operate.”
British newspaper The Daily Telegraph reported late last year that Deliveroo is eyeing a 2020 IPO, quashing rumors that a takeover deal from Uber was in the works.
This is a breaking news story. Please check back for details.
