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London-based food delivery startup Deliveroo has gobbled up another $100 million in funding, as the startup announces its first launch markets outside of Europe.
The series D round was led by DST Global and Greenoaks Capital, with additional contributions from Accel, Hummingbird Ventures, and Index Ventures. Deliveroo has been on a major growth drive in the competitive e-cuisine scene over the past 12 months, and today’s news doubles the company’s funding to date — it raised $25 million in January followed by $70 million in July. The startup also raised a $2.7 million series A round in mid-2014.
Founded in 2013 by William Shu and Greg Orlowski, Deliveroo’s main differentiator from other food-delivery companies is that it focuses on the “premium” end of the cuisine spectrum, with many eateries on board that haven’t traditionally offered a takeaway service, such as Nando’s, Wagamama, and Gourmet Burger Kitchen, as well as smaller indie establishments.
So far, the company has covered dozens of cities across the U.K., Ireland, Belgium, France, Germany, Italy, Netherlands, and Spain. Now with an extra $100 million in its coffers, those in Dubai, Hong Kong, and Singapore, as well as Australia’s Melbourne and Sydney, can also use the service.
Deliveroo’s more established London-based competitor Just Eat, which is kind of like a global version of GrubHub, IPOd last year on the London Stock Exchange at a $2.5 billion value. However, Just Eat operates a different business model — it lets thousands of local takeaways sign up to make their menus available, and each takeaway uses its own delivery drivers. Meanwhile, Deliveroo partners with restaurants — 5,000 around the world — and uses its own drivers and cyclists to create a more consistent experience and brand. It also lets restaurants increase sales without having to invest in delivery and logistics infrastructure.
Deliveroo is now available in 50 cities in 12 markets, and the company said that it will use the investment to fuel further international expansion to establish it “as the number one provider of on-demand high-quality food delivery.”
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