Deliveroo today has announced the acquisition of New York-based food delivery firm Maple. Through the acquisition, a portion of Maple’s team will move to Deliveroo’s London operations.
The news follows from Deliveroo having raised $275 million in a Series E round in August just last year, making its total funds raised till date rise up to $474.59 million.
Commenting on the acquisition, Will Shu, founder and CEO of Deliveroo, said:
Maple’s founders share the same vision for food delivery as we do – great food delivered straight to your door, fast. I have a huge amount of respect and admiration for everyone who has been a part of Maple. Maple’s great work will live on through Deliveroo.
He spoke about the Deliveroo mission to become “the very best food delivery service in the world”, adding that the acquisition represents an important step in this process. He said:
Their leading technology and kitchen design expertise will help accelerate the growth of Deliveroo Editions, a brand new platform that helps restaurants to launch, test and take their menus nationwide without the need for a high street premise.
Maple was established in 2014, and had managed to rake in $29 million in funding to date from investors including Greenoaks Capital and Thrive Capital. The news was announced by Maple’s founders Akshay Navle and Caleb Merkl via a blog post. They said:
Over the past several months we’ve been spending most of our time thinking about the future of our business—what comes next for Maple? The more time we spent trying to answer this question, the more evident it became that of all the paths we had contemplated, the most compelling next step in Maple’s story involved a shift from our current approach.
They spoke about the incredibly tough decision to close Maple’s operations in New York and hunt for a partner with scale, something that would allow them to ” leverage all that we had built across a broader platform.” Although the terms of the acquisition are yet to be disclosed, further details about this latest development in FoodTech are sure to follow.