Deliveroo Closes $358 Million

U.K. food delivery company Deliveroo announced it has raised $358 million in financing. T. Rowe Price and Fidelity Management & Research Company led the round, with participation from DST Global, General Catalyst Partners, Index Ventures and Accel Partners.

Deliveroo’s technology platform optimizes food ordering and delivery by integrating web and mobile consumers with restaurant tablet-based point-of-sale order management terminals and a logistics optimization algorithm used by delivery driver smartphone software. The company also offers Deliveroo Editions, which are bespoke kitchens designed to host locally-curated selections of restaurants. According to Deliveroo, it has operations in more than 100 cities across 12 countries.

In its announcement, the company said the new funding will allow Deliveroo to invest heavily in enabling more people to order great local restaurant food quickly to their front doors.