Berlin based an online food-ordering service, Delivery Hero which operates in 34 countries, has raised $110 million from two unnamed investors at a valuation of about $3.1 billion. The latest round brings the total capital of the firm to date is $1.4 billion, with nearly $600 million of that secured this year alone. Previous investors include Rocket Internet, Insight Venture Partners, General Atlantic, Target Ventures as well as several US-based public fund managers.
The company also looks for an IPO but it is having no plans in 2015. Delivery Hero’s network includes over 200,000 restaurants, and processing 10 million orders each month. Some of its recent acquisitions include last month Turkey-based Yemeksepeti for $589 million, and Subdelivery acquired in October 2014. Also, it has made two investments in online food ordering platform, TastyKhana before its acquisition, and mobile food delivery platform, Yogiyo.
This space has gotten really hot with players, like Rocket Internet’s Foodpanda GmbH, GrubHub, and Just Eat Holding Ltd. Foodpanda recently acquired two companies in India – TastyKhana and JustEat India thereby expanding its market. GrubHub bought Seamless in 2013 and last month JustEat bought its Australian competitor Menulog, for $651 million. With this round of funding, Delivery Hero can also move faster with acquisitions and other strategic moves.