After launching in Singapore, Deliveroo announces $100 million in series D investment

Deliveroo, a London-based delivery service for premium restaurants, will use the funds for expansion, reports Tech in Asia

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Deliveroo, a London-based delivery service for premium restaurants that recently set up shop in Singapore, today announced a $100 million series D investment led by DST Global and Greenoaks Capital. Existing investors Accel, Hummingbird Ventures, and Index Ventures participated in the round.
 

Last week’s Singapore launch comes after growth in Deliveroo’s home market and a $70 million investment for international expansion last July. Since the start of 2015, Deliveroo claims to have grown its daily orders by 100 percent and expanded its service to 50 cities across 12 countries, including recent launches in Hong Kong, Dubai, Melbourne, and Sydney. The new investment will be used for further expansion and to strengthen Deliveroo’s foothold in the on-demand, high-quality food delivery sector.
 

 

According to the firm, more than 5,000 restaurants deliver via the platform worldwide. In Singapore, Deliveroo delivers to five areas – Bukit Timah, Kallang, Katong, the Central Business District, and Tanglin. It claims it will expand to 11 more areas before year’s end. More than 140 restaurants in Singapore have signed up.
 

Deliveroo launched in 2013 in London. From the beginning, the firm aimed to differentiate itself from food delivery businesses that were geared toward takeaway restaurants. Deliveroo believes its unique selling point is its partnership with premium restaurants that otherwise don’t typically provide delivery services.
 

As Deliveroo focuses on high-end cuisine, it doesn’t see a great many direct competitors in Singapore, but it does feel a ton of indirect heat. The startup will go head-to-head with players like Rocket Internet’s FoodPanda. Deliveroo will also see amplified competition in the form of RedMart, the nation’s dominant grocery delivery player.

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This is an excerpt from Tech in Asia. You can read the full article here.