Can More Funding Help Deliveroo Block Uber?

If Uber’s spread isn’t global at this point, then what markets they haven’t entered weren’t likely to be vibrant business interests in the end. Where it has expanded, though, it’s made gains enough to make the native players in the market nervous enough to go back to the drawing board.

European food delivery startup Deliveroo has raised $275 million in Series E funding, according to a story first reported by Sky News and confirmed by TechCrunch. Anonymous sources said that the round put Deliveroo’s valuation over the $1 billion mark, with a total of $475 million raised, and in a statement, Founder and CEO Will Shu said that the funds would go to experimenting with new additions to the normal delivery process, such as RooBox, a service that rents delivery-only kitchens in high-traffic areas to restaurants.

“After seeing strong growth in the markets, we launched in November. Our new focus is to drive further innovation in food delivery,” Shu said in a statement. “In particular, I’m excited about exploring completely new ways to solve the hardest problems restaurants face when offering delivery. RooBox is the first illustration of this approach, and innovations like these are at the heart of our mission. We’re proud and honored to have the support of Bridgepoint, DST Global and General Catalyst in this endeavor.”