Data Science Investment Counter —Funding raised by UK data science companies in 2017 as of today
£ 343.535 Million

Deliveroo Valued at £1.5B following £73M Round

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British food-delivery service Deliveroo is now a double-unicorn. (via bit.ly/2iKHr3e)

Food-delivery app Deliveroo has secured £73 million ($98 million) in a Series F funding round it started raising in September,  and which has so far raked in £385 million.

The round was led by T. Rowe Price and Fidelity; DST Global, General Catalyst, Index Ventures, and Accel Partners also took part. Deliveroo is now well into unicorn territory, being valued at £1.5 billion, or $2 billion.

London-based Deliveroo— which employs over 1,000 people globally and plans to be operating in 200 cities worldwide by next week— announced that the new cash will be used to drive its expansion to new markets, further develop its technology (with a particular focus on Artificial Intelligence), and roll out its pop-up shipping crate kitchens for restaurants.

Company founder and CEO Will Shu commented on the new round in a statement. “This new investment will help Deliveroo to expand in the UK and around the world, bringing ever more great food directly to people’s doors. This is all thanks to the hard work of our riders, the great restaurants that we work with and our brilliant customers.”

“The next exciting phase of the UK restaurant industry will see more power being handed to the consumer, with restaurants better able to cater for consumers’ needs because they have richer data to work with. This investment will help to accelerate this process, bringing more people more choice, healthier options and new food. As our technology improves deliveries will become faster and our selection on offer will become more varied,” he added.

“This is great news for the UK economy as it will help to create work in restaurants as well as well-paid, flexible work for our riders.” (“Riders” is Deliveroo-parlance for the gig workers delivering food ordered through the app, who are not officially Deliveroo employees. This ambiguity has in the past earned the company some criticism from unions and political leaders.)

Image via bit.ly/2iKHr3e

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