London-based Deliveroo, the startup that threw its hat into the increasingly crowded online takeaway ordering ring two years ago, has secured a massive $100 million in Series D funding as it sets out to expand its service internationally.
The financing round, the latest in a series of major investments in European food delivery startups, was led by prominent venture capitals firm DST Global and Greenoaks Capital, with participation from prior backers such as Accel Partners, Index Ventures and Hummingbird Ventures.
Greenoaks Capital, founded by Neil Mehta, earlier led Deliveroo’s $70 million Series C funding, which, for the record, was closed a mere four months ago.
In related news, Deliveroo is today announcing that it is launching in five new cities in Asia Pacific and the Middle East, including Singapore (actually announced last week), Dubai, Hong Kong, Melbourne and Sydney, marking its first foray outside Europe.
Deliveroo tries to differentiate from other well-funded (and some publicly listed) rivals such as Delivery Hero, Foodpanda, Takeaway.com and Just Eat by focusing on high-end meals, working with more than 5,000 premium restaurants – who don’t typically do take-away in the first place – for an upscale yet hyper-local experience.
The startup claims its daily orders have grown tenfold since the beginning of this year, as it expanded its service to 50 cities across 12 countries.
William Shu, co-founder and CEO of Deliveroo, comments:
“We’ve experienced extraordinary demand for our service as consumers want high-quality food delivered quickly and restaurants seek a new significant source of revenue.
It’s been phenomenal to see the business quickly expand from London to European capitals and some of the most exciting cities in Asia Pacific and the Middle East.”
Yuri Milner, the Russian billionaire who founded DST Global, a new investor in Deliveroo, said:
“Will and the Deliveroo team are dedicated to providing a great food delivery experience for their customers, restaurant partners and drivers. We hope this new round will support their continued growth.”
Image credit: Deliveroo on Instagram