Germany-based online food takeaway network Delivery Hero has raised $85m in a series F round led by hedge fund Luxor Capital Group and also featuring existing investors, TechCrunch has reported.
Those existing investors could include retail group Tengelmann, which invested in Delivery Hero’s $5.5m series A round in 2011 and its $30m series D round in July 2013 through its Tengelmann Ventures subsidiary.
Delivery Hero has now raised more than $280m since it was founded in 2010, including an $88m series E round in January 2014 led by private equity and venture capital firm Insight Venture Partners. Other investors include Ru-Net, Kite Ventures, Holtzbrinck Ventures, Point Nine Capital and Team Europe.
The company is yet to officially announce the funding but TechCrunch cited CEO Niklas Ostberg who said that the funds would be used to defend its market position in Germany as well as other markets where it is seeing increasing competition.
Delivery Hero is active in 14 countries across Europe, Asia and Australia through different subsidiaries, though interestingly many of them are not the same serviced by the company that should be its main competitor, UK-based Just Eat, which recently raised £100m ($168m) from an initial public offering in London.