<article>UK-headquartered <a class="tinymce-colortext" style="color: #000080;" href="https://www.dealstreetasia.com/stories/deliveroo-raises-275m-to-escalate-food-delivery-wars-49869/">food delivery startup Deliveroo</a> has raised $385 million in a fresh funding round, which has valued the startup at $2 billion.</article>

UK-headquartered <a class="tinymce-colortext" style="color: #000080;" href="https://www.dealstreetasia.com/stories/deliveroo-raises-275m-to-escalate-food-delivery-wars-49869/">food delivery startup Deliveroo</a> has raised $385 million in a fresh funding round, which has valued the startup at $2 billion.
The funding round was led by fund managers T Rowe Price Associates, Inc and Fidelity Management &amp; Research Company, investment managers who have previously backed global technology companies including Facebook, AirBnB and Tesla, the company said in an announcement on Monday.
Existing investors DST Global, General Catalyst, Index Ventures, and Accel Partners are also making follow-on investments, increasing their positions in the company.
Prior to this funding, Deliveroo has raised a total of $475 million comprised of five funding rounds, with its Series E round closing in August last year.
This new funding will allow the company to invest heavily in delivery-only kitchens which allows partner restaurants to expand without any of the traditional upfront costs, growth of its technology team and expansion into new geographies.
&#8220;This investment will take us to the next level and allow our riders to deliver ever more great food directly to people’s doors,” Will Shu, founder and CEO of Deliveroo said.
The London-based company, that came to life four years back, serves in 150 cities around the world. Founded by William Shu and Greg Orlowski, the company works with 30,000 restaurants, as well as 30,000 riders to provide food delivery across 12 countries, including Australia, Belgium, France, Germany, Hong Kong, Italy, Ireland, Netherlands, Singapore, Spain, United Arab Emirates and the United Kingdom.
&#8220;We believe they have a world class team, strong technology capabilities, and the right business model. We are excited to see this capital put to use to build out their Editions concept and expand their geographic footprint,&#8221; said Henry Ellenbogen, portfolio manager at T. Rowe Price New Horizons Fund.
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UK food tech startup Deliveroo raises $385m in fresh round, valuation hits $2b

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UK food tech startup Deliveroo raises $385m in fresh round, valuation hits $2b

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