Deliveroo has announced a US$275 million, or A$361 million, Series E investment, led by Bridgepoint, existing investor DST Global, and General Catalyst with participation from existing investor Greenoaks Capital.
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 pioneering remote kitchen initiative. RooBox, Deliveroo’s latest initiative, gives restaurants access to delivery-only kitchens in key locations, accelerating geographic expansion.
“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,” said Will Shu, founder and CEO of Deliveroo.
Since its Series D round in November, Deliveroo has achieved over 400 percent growth and reached profitability in a number of its established markets. It has also launched in 29 new cities, added an additional 9,000 new restaurant partners, and employed for 6,500 riders, improved its customer retention rates and maintained a 30 minute average delivery time.