Grocery delivery startup Gopuff eyes $1 billion funding round

Rapid grocery delivery startup, Gopuff, is close to raising approximately $1 billion, valuing it at $15 billion, according to media reports.

The venture was last valued at $8.9 billion after a March funding round pulled in $1.15 billion.

The latest round will include participation from Blackstone Group, and also existing investor Fidelity.

Gopuff is using the cash to to acquire new customers and build out its infrastructure.

This includes a micro-fulfilment centre that stocks around 3,000 products for the 650+ cities in the US where it currently operates its $1.95 flat fee “in minutes” delivery service.

It is also in the acquisition business. For instance, in June of this year it bought logistics tech company rideOS for $115 million.

The happiest dads are the ones who get Happy Dad delivered in 30 minutes because we're BACK IN STOCK! Listen up Cali - order now before this next batch is gone 😆 @happydad pic.twitter.com/fpgpx5yxAb
— Gopuff (@gopuff) June 30, 2021

Jokr

Earlier this week, rapid grocery delivery startup, Jokr, closed a $170 million Series A funding round, three months after the company started operations in the US, Latin America and Europe.

Led by GGV Capital, Balderton Capital and Tiger Global Management, the funding will allow it to enter new cities and expand in current locations, including its home base of New York City.

“We continue to build Jokr into the premier platform for a new generation of online shopping, with instant delivery, a focus on local product offerings and more sustainable delivery and supply chains,” said Ralf Wenzel, Founder and CEO.

“We are proud to be able to partner with such a distinguished group of international tech investors to help us seize the enormous opportunity in front of us.”

Hans Tung, Managing Partner at GGV Capital and newly appointed member of Jokr’s board, commented: “Ralf has put together an all star team for food delivery that will transform the retail supply chain.”

“The combination of food delivery experience and the sophisticated data capabilities that optimises inventory allocation and dispatch, set Jokr apart.”

“We look forward to working with the team on their mission to make retail more instant, more democratic, and more sustainable.”