Deliveroo has raised $98m (£74m) as it closed its Series F funding round, bringing the total raised to $482m (£365m).

As of next week Deliveroo will be operating in 20 cities worldwide, when it launches in Cannes.

The Series F funding round has been led by T. Rowe Price Associates and Fidelity Management & Research Company. Existing investors DST Global, General Catalyst, Index Ventures, and Accel Partners also made follow-on investments.

Deliveroo said the was one of the largest ever investments into a tech company in the UK or Europe

The company has three priority growth areas in which it will focus investment: growth of Deliveroo Editions; investment in its technology team and rapid expansion into new towns, cities and countries.

Will Shu, founder and chief executive of Deliveroo, said: “This new investment will help Deliveroo to expand in the UK and around the world, bringing ever more great food directly to people’s doors. This is all thanks to the hard work of our riders, the great restaurants that we work with and our brilliant customers.

“The next exciting phase of the UK restaurant industry will see more power being handed to the consumer, with restaurants better able to cater for consumers’ needs because they have richer data to work with. This investment will help to accelerate this process, bringing more people more choice, healthier options and new food. As our technology improves deliveries will become faster and our selection on offer will become more varied.

“This is great news for the UK economy as it will help to create work in restaurants as well as well-paid, flexible work for our riders.”