UPDATE 1-UK's Deliveroo raises $100 mln amid food funding binge

Tue Nov 24, 2015 11:01am EST
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(Adds Q3 VC funding data for food delivery; competitive details)

* Venture-backed Deliveroo takes $100 mln in new funding

* Food tech start-ups raised $1.25 bln in Q3-CB Insights

* Critics see mini tech bubble

By Eric Auchard

FRANKFURT, Nov 24 (Reuters) - Deliveroo has raised another $100 million in venture financing, its third funding round this year, the company said on Tuesday, seeking to expand its premium restaurant home deliveries to Asia and the Middle East before rivals can outflank it.

London-based Deliveroo is looking to distinguish itself in the crowded market for high-end food delivery, one of the hottest areas for start-up investment. Data research firm CB Insights has charted 74 funding rounds raising $1.25 billion in the third quarter alone.

These services seek to capitalise on the growing demand among urban consumers for home or office deliveries accessible with a few clicks on a mobile phone app.

But a chorus of critics, including some top-flight venture capitalists, have singled out the funding surge as evidence of a new investment bubble.   Continued...