Amazon is leading a $575 million funding round for Deliveroo, bringing the total the food delivery app has raised to date up to $1.5 billion, reports CNBC. Existing investors T. Rowe Price, Fidelity Management, and Greenoaks also took part in the funding round. The company will use the funding to grow its engineering team in its London headquarters and expand its delivery reach.
Deliveroo grew by 116 percent globally in 2017 and in December 2018, opened its first brick-and-mortar restaurant in Hong Kong. Deliveroo Food Market serves as a kitchen for delivery online orders as well as a consumer-facing storefront where customers can choose from 15 dining concepts.
The Daily Telegraph reports Deliveroo is eyeing a 2020 IPO, quashing rumors of an Uber takeover. Full Story
Related: Over Half of Consumers Eat Out At Least Twice a Week; Off-Premise Dining Driving Restaurant Tech.
from Industry Operations http://bit.ly/2JNbC80
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