London-based start-up Deliveroo, which delivers meals from some of the country’s leading restaurants, has raised $100 million (£66 million) in funding as it looks to expand into other countries..
Total investment in Deliveroo has now increased to approximately $200 million (£132 million) and is thought to value the company at around $600 million (£397m).
The investment will now help Deliveroo expand to Hong Kong, Singapore, Melbourne, Sydney and Dubai, meaning that it will be active in 50 cities across 12 countries, working with over 5,000 restaurants worldwide.
The company, which is headquartered in London, was formed by Shu in 2012, and offers deliveries from restaurants such as Rossopomodoro, Gourmet Burger Kitchen, and Ping Pong.
Deliveroo is the latest in a series of UK start-ups to strike it big regarding investment, and its growth helps solidify London as the centre of the nation’s start-up economy.
However data released last week showed that shows how high rents are forcing many companies to move away from the capital’s Silicon Roundabout area and out across the city.
What do you know about tech start-ups? Try our quiz!
Swedish telecoms giant Ericsson blamed “challenging mobile networks market” and “further volume contraction” for job…
Dramatic downfall. Sam Bankman-Fried sentenced to 25 years in prison for masterminding $8bn fraud that…
Fallout avoidance? Tesla buyers in the US must be shown how to use the FSD…
Amazon completes its $4bn investment into AI firm Anthropic, after providing an additional $2.75bn in…
While AI promises unparalleled efficiency, productivity, and innovation, questions regarding its environmental impact loom large.…
Shares in Donald Trump’s social media company rose about 16 percent after first day of…