May 17, 2019

Amazon leads $575m funding round into Deliveroo

Amazon is making a fresh attempt to enter the food delivery market, leading a $575m funding round into Deliveroo after talks between the London-based food delivery app and Uber broke down last year. Deliveroo said on Friday that Amazon was the biggest investor in the funding round, which also saw it raise money from existing investors T Rowe Price, Fidelity and Greenoaks. The deal comes after Amazon last year shut down its own struggling food delivery service, Amazon Restaurants, in the UK. It is the third major investment this year from the ecommerce giant, which has also backed self-driving start-up Aurora and battery-powered truck business Rivian as it attempts to protect its leading position in logistics. The investment could reshape the food delivery market in the 14 countries where Deliveroo operates, giving it the cash to compete with Uber's delivery service Uber Eats, and UK-listed Just Eat. Analysts said Amazon and Deliveroo were likely to integrate services, for example by allowing users to order Deliveroo food on Amazon's Echo devices, or seeing Deliveroo couriers deliver packages as well as food.

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