U.S. DoorDash nabs $400 mln funding from Singapore’s Temasek, others

U.S.-based on-demand food delivery service platform DoorDash has nabbed about $400 million in Series F financing.

The investment was co-led by Singaporean investment major Temasek and Dragoneer Investment Group. Other backers including Softbank Vision Fund, DST Global, Coatue Management, GIC, Sequoia Capital, and Y Combinator, also joined the round.

With financial support, which valued DoorDash at $7.1 billion, the company will advance its momentum in terms of its growth rate from over 250 percent to 325 percent in 2019.

Moreso, DoorDash will use the money to meet new consumers and empower local businesses across America, develop innovative products and services that benefit all audiences, and enhance the capabilities of its logistics platform.