Investor Alert

May 17, 2019, 4:05 p.m. EDT

United States : Amazon leads US$575m investment in UKs Deliveroo

Watchlist Relevance

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

or Cancel Already have a watchlist? Log In

May 17, 2019 (Euclid Infotech Ltd via COMTEX) -- Amazon.com Inc is leading a US$575 million investment in Deliveroo, buying a slice of the fast-growing startup to propel its drive into the European food and groceries business.

The US online retail giant will be joined in the Series G funding round by existing backers T Rowe Price, Fidelity Management and Research Co and Greenoaks, Deliveroo said in a statement. The London-based startup, which has raised US$1.53 billion to date, gets a cash infusion to expand its technology team and network and compete against the likes of Just Eat plc and Uber Technologies Inc.

Amazon has signalled its growing ambitions in food with Prime Now, which offers deliveries to major British cities within two hours. But it faces stiff domestic competition from the likes of Ocado Group plc, an online grocery pioneer that licenses its technology to the likes of Kroger Co and aims to halve that time with a service called Zoom.

Consolidation has also been heating up in the food delivery sector. In one recent deal, Takeaway.com NV agreed to acquire the German businesses of Delivery Hero SE for approximately 930 million euros (S$1.4 billion) in December.

This Story has 0 Comments
Be the first to comment

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.