Deliveroo to boost innovation with new Amazon-led US$575m funding

Deliveroo has nabbed US$575 million in series G funding and will channel it towards the expansion of its tech team in the UK, as well as engage new customers. It also aims to use the funding to continue innovating through its delivery-only super kitchens, “Editions”. Additionally, the funding will be used to build its service, offering even more work for riders, and helping restaurants to grow the businesses by reaching new customers.The new investment will also contribute to the development of new products for customers to offer a more personalised experience, increased support for restaurant partners, and new tools to offer riders flexible and well-paid work. Led by Amazon, the latest funding round brings the total amount raised to date to US$1.53 billion. Existing investors T Rowe Price, Fidelity Management and Research Company, and Greenoaks were also involved in the funding round.Will Shu, founder and CEO of Deliveroo, said this new investment will help Deliveroo to grow and offer customers even more choice, tailored to their personal tastes, offer restaurants greater opportunities to grow and expand their businesses, and to create more flexible, well-paid work for riders.He added that Amazon has been an inspiration to himself and to the company, as the team looks forward to working with a customer-obsessed organisation. Shu was also of the view that for the tech and restaurant sectors, this new investment will help to create jobs in all of the countries in which Deliveroo operates in.“We’re impressed with Deliveroo’s approach, and their dedication to providing customers with an ever increasing selection of great restaurants along with convenient delivery options. Shu and his team have built an innovative technology and service, and we’re excited to see what they do next,” Doug Gurr, Amazon UK country manager said.In March this year, Deliveroo unveiled a new physical dining space called “Deliveroo Food Market” which was done in collaboration with US-based technology automation company eatsa. The dining concept is the third of its edition for the food delivery company in Singapore, and includes self-serve kiosks and automated digital cubbies for the order and pick up process.(Photo courtesy: 123RF)