Mikael Buck/DeliverooLondon-headquartered food delivery service Deliveroo has announced it has secured investment from Amazon in a Series G funding round worth $575 million. Amazon is leading the funding round alongside existing investors T Rowe Price, Fidelity Management, and Greenoaks. Deliveroo works with 30,000 riders and drivers in 13 countries. Deliveroo's routing algorithm is called Frank (the name was chosen for the Danny DeVito character in the TV series It’s Always Sunny in Philadelphia.) The company’s sales more than doubled last year to £277 million, but losses also increased to nearly £185 million.

Source: Forbes May 17, 2019 07:41 UTC