The ‘on-demand’ delivery startup that services restaurants that don’t traditionally offer take-out for delivery has raised a $100 million Series D round led by DST Global and Greenoaks Capital, with participation from existing investors Accel, Hummingbird Ventures and Index Ventures.
This brings Deliveroo’s total funding to approximately $200 million since being founded in 2012. The company isn’t revealing the valuation put on it by investors and CEO and founder Will Shu wouldn’t be drawn on the issue (see below).
The company is also announcing that it has expanded beyond Europe to Asia, Australia and the Middle East, namely the cities of Hong Kong, Singapore, Melbourne, Sydney and Dubai.
That means that Deliveroo is now active in a whopping 50 cities across 12 countries, while the new investment will be used for further international expansion with the aim to establish the startup as “the number one provider of on-demand high-quality food delivery”. Over 5,000 restaurants currently offer delivery via Deliveroo worldwide.
In a hastily-arranged call, I discussed all of the above and more with the company’s founder, including how Deliveroo sits in an increasingly crowded on-demand delivery space — Rocket Internet (GFC)-backed Take Eat Easy is a direct competitor — what it plans to spend the additional capital on, and why the startup still doesn’t deliver to my part of inner London.
Listen to the lightly edited interview with Will Shu below.