Amazon is taking a slice of Europe’s meals supply market after the U.S. e-commerce large led a $575 million funding in Deliveroo.

First reported by Sky yesterday, the Collection G spherical was confirmed in an early UK morning announcement from Deliveroo, which confirmed that current backers together with T. Rowe Worth, Constancy Administration and Analysis Firm, and Greenoaks additionally took half. The deal takes Deliveroo to simply over $1.5 billion raised up to now. The corporate was valued at over $2 billion following its earlier increase in late 2017, no up to date valuation was offered as we speak.

London-based Deliveroo operates in 14 international locations, together with the U.Ok, France, Germany and Spain, and — exterior of Europe — Singapore, Taiwan, Australia and the UAE. Throughout these markets, it claims it really works with 80,000 eating places with a fleet of 60,000 supply individuals and a pair of,500 everlasting workers.

It isn’t instantly clear how Amazon plans to make use of its new strategic relationship with Deliveroo — it may, for instance, combine it with Prime membership — however this isn’t the agency’s first dalliance with meals supply. The U.S. agency closed its Amazon Eating places UK takeout enterprise final 12 months after it struggled to compete with Deliveroo and Uber Eats. The service stays operational within the U.S, nonetheless.

“Amazon has been an inspiration to me personally and to the corporate, and we stay up for working with such a customer-obsessed group,” stated Deliveroo CEO and founder Will Shu in a press release.

Shu stated the brand new cash will go in the direction of initiatives that embody rising Deliveroo’s London-based engineering staff, increasing its attain and specializing in new merchandise, together with cloud kitchens that may cook dinner up supply meals quicker and extra cost-efficiently.

[Center] Will Shu, Deliveroo CEO and co-founder, on stage at TechCrunch Disrupt London


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