Deliveroo raises $ 361M to compete in food delivery market

The food delivery market is going to be more and more competitive. According to Rocket Internet estimates, its value is around 90 billions of dollars, an element that is carrying several big players, such as Uber and probably Amazon, soon to enter the European market.

Deliveroo, London-based company born in 2013, has decided to "pump fresh cash", through a collection funding and raises $ 361 milllion, tanks to a group of new investors led by private equity fund Bridgepoint. In less than three years, the start-up has already put together $ 475 million that drives up the evaluation, though analysts do not unbalance of what could be the company's value on the market.

From November, when it was closed the fourth round of funding from $ 100 million, Deliveroo has recorded a growth of around 400% of the business by launching its service in 29 new cities and adding more than 9 thousand new restaurants to its catalog. This growth has resulted in 6,500 new "Raiders" of home delivery. Service coverage is distributed in 12 country through 84 cities.

"After witnessing strong growth in new markets, where we entered last November, our new focus now is to drive the process of innovation in the world of food delivery" says Will Shu, Founder and CEO of Deliveroo who then adds: "in particular, we are very excited about exploring new ways to solve problems that restaurants can face when they offer a home service. RooBox is the first concrete example of this approach and innovations of this kind are the heart of our mission . We are very proud and honored to have the support of Bridgepoint, DST Global and General Catalyst in this fascinating challenge. "