Deliveroo raises $385m, fetching a $2bn-plus valuation
Food delivery platform Deliveroo has said it is now worth more than $2bn after it announced a new round of funding worth $385m.
The new funds have been raised from investors to help it expand into more countries, while boosting its tech capabilities.
Fidelity and T Rowe Price were the lead investors in the latest round of financing, joining the likes of DST Global and Index Ventures.
Deliveroo CEO Will Shu said the company’s board was confident the capital injection would allow the company to achieve its long-term goals.
"With this funding we will invest further in our delivery-only kitchens Editions, in developing our technology and in taking Deliveroo to more towns and cities," Shu said.
"This investment will take us to the next level and allow our riders to deliver ever more great food directly to people’s doors."
Deliveroo has been criticised alongside some other so-called 'gig economy' firms such as Uber of manipulating UK employment practices.
Earlier this year, a parliamentary committee accused the company of using its flexible working conditions against its delivery workers.
Contracts provided by the companies were reviewed by the committee, with some going as far as including clauses which insist employees agree not to take them to court in potential disputes over self-employment status.