UK online food delivery firm Deliveroo has raised $275m in a new round of investment to expand its operations.
Bridgepoint led the Series E investment round, which included previous investors DST Global, General Catalyst, and Greenoaks Capital.
Deliveroo will use the new funds to expand its services in both new and existing markets, as well as to invest in projects such as RooBox, a remote kitchen initiative.
Through RooBox, restaurants can access delivery-only kitchens in crucial locations to speed up geographic expansion.
The additional funding means that Deliveroo has now raised a total of $475m in capital since its launch in 2013. The company is now valued at around $1bn.
The company operates in 12 countries and some 84 cities in Australia, Hong Kong, UAE and various European countries. Its team of more than 20,000 riders deliver food from over 16,000 restaurants.
The company said that since its Series D round in November, it has achieved more than 400% growth and reached profitability in several of its established markets.
Deliveroo founder and CEO Will Shu said: “After seeing strong growth in the markets we launched in November, our new focus is to drive further innovation in food delivery.
“In particular, I’m excited about exploring completely new ways to solve the hardest problems restaurants face when offering delivery. RooBox is the first illustration of this approach, and innovations like these are at the heart of our mission.”
In Europe, Deliveroo is competing with UK-based Just Eat; UberEATS and Delivery Hero.
