Amazon invests in food courier service Deliveroo | Business

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Amazon in investing millions in Deliveroo in a boost to the UK food delivery service as it takes on a rival such as Uber Eats in a competitive market.

The online giant is the lead investor in a $575m financing round, which also includes existing investors T Rowe Price, Fidelity Management and Research Company, and Greenoaks. Deliveroo said it had raised a total of $1.5bn since it launched in 2013.

Deliveroo said the new investment would allow it to deliver to more customers by expanding its geographic reach and grow its engineering team based at its London headquarters.

Will Shu, the founder and chief executive of Deliveroo, said the investment would result in the creation of more jobs in all of the countries in which it operates.

He added: “This new investment will help Deliveroo to grow and to offer customers even more choice, tailored to their personal tastes, offer restaurants greater opportunities to grow and expand their businesses, and to create more flexible, well-paid work for riders.”

Deliveroo said it will also use the money raised to invest in new formats that will help restaurants expand into new areas at a lower cost and lower risk, bringing more choice to local neighbourhoods.

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