Deliveroo, the London-based food delivery network, has announced it has secured $275m (£209m) to drive expansion and investment in new concepts such as its remote kitchen initiative, RooBox.
The company announced a Series E investment, led by Bridgepoint, existing investor DST Global, and General Catalyst with participation from existing investor Greenoaks Capital.
Since its Series D round in November, Deliveroo has achieved over 400% growth, launched in 29 new cities, added an additional 9,000 new restaurant partners.
Founder and chief executive Will Shu said: “After seeing strong growth in the markets we launched in November, our new focus is to drive further innovation in food delivery. In particular, 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.”
The company, which was founded just three years ago, has already raised nearly $200m (£150m) since the start of last year.
Deliveroo has more than 2,500 outlets signed up to its service in London and is set to launch into a further 25 UK markets in Q3.
Last month Deliveroo announced it was expanding its alcohol offer, with tie-ups now secured with BrewDog bars as well as off-trade giants such as Majestic Wines and Marks & Spencer.
It has also continued to expand its partnerships with restaurant, recently adding Bill’s and Cote.
Its RooBox iniative provides partner restaurants with the use of fully-equipped, off-site kitchens in areas of high demand for delivery.
Earlier this year UK managing director Dan Warne talked to MCA about the potential for the concept.
He said: “We want to scale this not just in London, but ultimately across the UK and internationally as well. London is our focus now and will continue to be for the coming months, but assuming it goes well, and we are confident it will, then we will expand it elsewhere. We have our eyes on a couple of sites and hope to have additional units shortly in London. There are a number of restaurant operators eager to get involved.”
