Delivery Hero heads up mega Gorillas Series C funding round
Rapid grocery delivery venture, Gorillas, has raised close to $1 billion in a Series C funding round.
This was led by Delivery Hero, and included further investments by existing investors Coatue Management, DST Global, Tencent, Atlantic Food Labs, Fifth Wall, Greenoaks, A*, and new backers G Squared, Alanda Capital, Macquarie Capital, MSA Capital and Thrive Capital.
It comes seven months after Gorillas bagged $290 million in Series B funding, taking its valuation past the $1 billion mark.
it also closely follows protests over its treatment of delivery riders and warehouse workers, as well as the departure of senior executives, fuelling criticism of Chief Executive Kağan Sümer.
Founded in 2020, Gorillas operates over 180 warehouses in nine international markets, delivering over 4.5 million orders in the past six months.
It says that the capital raised will allow it to reinforce its footprint in existing markets while investing more deeply in its operations, people, technology, marketing and finance infrastructures.
“The size of today’s funding round by an extraordinary investment consortium underscores the tremendous market potential that lies ahead of us,” says Sümer.
“With Delivery Hero, we have chosen a strong strategic support that is deeply rooted in the global delivery market, and is renowned for having unique experience in sustainably scaling a German company internationally.”
“We have the best team in our sector, leading partners, and financial resources to strengthen our market leading position in Europe and beyond.”
“Gorillas has been setting new standards for the delivery industry by offering an efficient and sustainable alternative to traditional grocers,” says Niklas Östberg, CEO and Co-Founder, Delivery Hero.
“We have been following their stellar growth over the past few months, and we are beyond excited to be now part of their journey.”
“Both of our companies place a lot of value on creating a strong sense of community and we are convinced that our investment will positively impact employees, consumers as well as our industry.”
