British online delivery firm Deliveroo confirmed that Amazon is set to be the largest investor in its latest $575m fundraising round.
Although the value of Amazon’s investment is unconfirmed, the news that the online giant has thrown its weight behind Deliveroo hit the shares of rival online food delivery names, such as Just Eat, Takeaway.com and Delivery Hero right where they live.
Deliveroo has now raised $1.53bn of capital from a variety of investors including T. Rowe Price and Fidelity Management as it looks to take fight to competitors such as Uber Eats.
Chief executive and founder, Will Shu, said the money would help Deliveroo grow and offer more choice to customers. Amazon described Deliveroo as an innovative service and said it’s excited about what they do next.