Deliveroo raises US$275 million funding

Deliveroo, the on-demand food delivery service, has raised US$275 million in its series E investment, led by Bridgepoint, existing investor DST Global, and General Catalyst with participation from existing investor Greenoaks Capital.The London-based platform launched in 29 new cities last year, and now operates in 84 cities across 12 countries, including Hong Kong and Singapore.Since its series D round in November, Deliveroo has achieved over 400% growth and reached profitability in a number of its established markets. The company has also hit key milestones such as expanding its service to cover breakfast, express lunch, alcohol and corporate ordering, and striking deals with major partners such as PizzaExpress.The new funds will be used to expand the service in both new and existing markets, as well as provide further investment in projects such as RooBox, a remote kitchen initiative.Will Shu, founder and CEO of Deliveroo, said: “I’m excited about exploring completely new ways to solve the hardest problems restaurants face when offering delivery. RooBox is the first illustration of this approach, and innovations like these are at the heart of our mission. We’re proud and honoured to have the support of Bridgepoint, DST Global and General Catalyst in this endeavour.”