Amazon, the online retail giant has made a sizeable investment in the Deliveroo, an online restaurant delivery company in the UK. This comes as the company is looking to enter the food and grocery market in the United Kingdom.
Deliveroo and Amazon both did not comment on the total investment made, however, it said that the e-commerce company was leading a £575m round. Fidelity Management, T.Rowe Price and Greenoaks also took part in the round of funding.
The food delivery company said that it has raised about $1.5bn and would use the amount raised to expand its engineering team in the UK and as well as enter news cities in London.
Last year, in December Amazon, pulled back on its restaurant delivery business in the UK and London.
The e-commerce company faced immense competition from Deliveroo, Just Eat and Uber Eats in London.
Amazon is still looking to expand its retail food and grocery business with its “Go” stores which are planned to open in the UK in the next few years. The Amazon Go stores have already been opened in the US market.