UK-based food delivery giant Deliveroo this morning announced that it secured $180 million in growth funding by some of its prior backer, led by Durable Capital and Fidelity.
The Series H round, which comes before an expected IPO later this year, will serve for the company to double down on its investments in so-called cloud kitchens, on-demand grocery delivery, and its 'Plus' subscription service. It values Deliveroo at north of $7 billion, it said.
Will Shu, founder and CEO of the scale-up, said: "At Deliveroo we are always focused on developing the best proposition for consumers, riders and restaurants. This investment will help us to continue to innovate, developing new tech tools to support restaurants, to provide riders with more work and to extend choice for customers, bringing them the food they love from more restaurants than ever before. We are really pleased our shareholders see the opportunity and growth potential ahead of us."