Delivery Hero Holding GmbH raised $110 million in a funding round that pushed the company’s value above $3.1 billion as investors seek to benefit from rising demand for online food deliveries.
The Berlin-based company raised the funds from two U.S. investors that it didn’t identify in its statement Monday. Closely held Delivery Hero plans to use the money for acquisitions and product innovation.
The investment signals that Delivery Hero’s value is rising as the company expands. Rocket Internet AG, the German e-commerce company that had an initial public offering last year, accumulated a 40 percent stake in Delivery Hero this year, including a transaction in February that valued Delivery Hero at $1.9 billion.
Last month, Delivery Hero said it was buying Yemeksepeti.com for $589 million in cash and shares to add operations in Turkey and expand its business in countries such as the United Arab Emirates and Qatar.