BREAKING NEWS

BREAKING NEWS

UK's Deliveroo says Amazon heads latest funding round of $575 million

UK's Deliveroo says Amazon heads latest funding round of $575 million
FILE PHOTO: A cyclist rides a bicyle as he delivers food for Deliveroo, an example of the emergence of what is known as the 'gig economy', in Paris, France, April 7, 2017. REUTERS/Charles Platiau -
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Charles Platiau(Reuters)
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(Reuters) - Deliveroo said on Friday that Amazon.com Inc was the lead investor of a new $575 million funding round in the British online food delivery company alongside its existing investors.

The firm said in an emailed statement that it would use the money to expand the tech team at its UK headquarters and tap new customers, as well as other initiatives.

The latest funds came from Amazon and existing investors T. Rowe Price, Fidelity Management and Research Co, and Green oaks.

Deliver said the Series G funding round takes the total it has raised to date to $1.53 billion.

Sky News reported the news earlier on Thursday.

(Reporting by Ismail Shakil in Bengaluru; Editing by Bernard Orr)

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