London startup Deliveroo has raised $70 million in a huge new funding round

Words by James Cook, Business Insider

Deliveroo, the London meal delivery startup that works with restaurants across Europe, has announced that it has raised $70 million in new funding.

The Series C funding round was led by Greenoaks Capital and Index Ventures, and Deliveroo's existing investors Accel Partners and Hoxton Ventures also participated.

Deliveroo lets customers order food from participating restaurants, and the food is brought to their door. Even if a restaurant doesn't do takeaway food, it can easily partner with Deliveroo to start an online takeaway business.

The company gives restaurants a tablet and bluetooth printer, and that's all they need to start taking online orders. Deliveroo handles the packaging, deliveries, booking, and works with venues to establish their online menu.

Customers aren't limited to a small selection of restaurants on Deliveroo, either. The platform works with over 2,000 different locations including Gourmet Burger Kitchen, MEATLiquor and Wagamama. It even works with a Michelin-starred restaurant: Trishna in London. It specialises in coastal food from south-west India.

Deliveroo already raised money this year, bringing in £16 million back in January. Deliveroo says that daily orders have increased by 500 per cent since it raised money in January, and it has now launched in France, Germany and Ireland. The company declined to reveal its revenues.

Chie executive William Shu told us back in January that the company has three key areas where it's spending its funding. First of all: it's focusing on geographic growth. Deliveroo is expanding to European cities, the Middle East and Asia. It's also planning on investing in marketing and technical development for the platform.

As part of the deal, Greenoaks Capital managing partner Benny Peretz will join the board of Deliveroo. He previously founded mobile gaming company PennyPop.

Another London restaurant app raised a stack of money earlier this money. Flypay brought in $10.7 million in funding in a round led by media group Time Out. The app lets customers order food through the app, and then pay for it too. It's so simple that you never have to talk to a waiter again.

Read the original article on Business Insider. Follow Business Insider on Twitter.

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