Gopuff announces mega Series H funding round

Rapid grocery delivery startup, Gopuff, has raised $1 billion in a Series H round that values the US-based venture at $15 billion.

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

The Series H includes new investments from Blackstone’s Horizon platform, Guggenheim Investments, Hedosophia, MSD Partners, and Adage Capital.

Existing investors Fidelity Management and Research Company, Softbank Vision Fund 1, Atreides Management, and Eldridge Capital also participated.

We're so excited to be delivering in San Diego! https://t.co/Yvv7czIjKT
— Gopuff (@gopuff) July 30, 2021

Gopuff will use the cash for expansion across North America, deeper expansion into the UK and across Europe, hiring people, and enhancing its technology.

“Gopuff has quietly built a very strong business and solidified itself as the leading player, continuing to define this evolving category,” says Scott Minerd, Global Chief Investment Officer at Guggenheim Investments.

“It is focused on maintaining fiscal responsibility while having the ability to successfully execute on strategic growth opportunities. This measured approach along with its impressive offering has only just scratched the surface.”

“As we continue to define the instant needs economy, we are thrilled to have new leading global partners onboard, along with the support of our longtime investors,” says Rafael Ilishayev, Co-founder and co-CEO, Gopuff.

“This funding round is further validation of the success of our model and will enable us to continue to do what we do best: deliver an unmatched customer experience.”

Jokr

Also in the rapid grocery delivery startup space, Jokr recently 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.”