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On-demand grocery startup Gorillas raises USD 1 Bn in Series C funding

Author : Pankaj Singh | Published Date : 2021-10-20 

Gorillas, a European on-demand grocery delivery startup, has reportedly raised USD 1 billion during a Series C funding round. This is claimed to be the largest fundraising for a non-listed startup across Europe.

The latest funding round was led by European delivery champion Delivery Hero SE, and other existing investors including DST Global, Coatue Management, Greenoaks, Atlantic Food Labs, Tencent, Fifth Wall, and an entity owned by Macquarie Capital Principal Finance.

The funding round also saw participation from some new investors including Alanda Capital, G Squared, Macquaire Capital, Thrive Capital, and MSA Capital. The fresh funds will allow Gorillas to expand its investments in operations, technology, and marketing efforts as well as other strategic growth projects while maintaining a high level of customer service.

Gorillas has recently strengthened its global senior leadership team by hiring skilled operators to assist in the company's sustainable aspirations, namely Elmar Broscheit as CFO, Deena Fox as CPO, and Adrian Frenzel as COO.

Kagan Sumer, the founder and CEO at Gorillas believes that the latest investments, as well as an alliance with Delivery Hero, will provide the company a strong strategic support in international markets. With the strong and leading financial resources, the firm expects to have a leading position in Europe and across the globe, Sumer added.

Niklas Östberg, the co-founder and CEO at Delivery Hero reportedly stated that with the sustainable and efficient alternatives, Gorillas have raised the bar in the delivery industry. Östberg further quoted that Delivery Hero is excited to become a part of Gorillas’ journey and is convinced that their investment will positively impact the industry, consumers, and employees.

Founded merely a year ago, Gorillas has quickly grown into a global company, opening 140 warehouses and delivering over 4.5 million orders in the past six months alone. With this rapid international expansion, Gorillas intends to develop a scalable and resilient infrastructure while strengthening its future growth.

Source credits:

https://www.prnewswire.com/news-releases/gorillas-secures-close-to-usd-1-billion-in-series-c-funding-raising-the-largest-european-round-in-its-sector-to-date-301402767.html

About Author

Pankaj Singh

Pankaj Singh

Endowed with a post graduate degree in management and finance, Pankaj Singh has been a part of the online content domain for quite a while. Having worked previously as a U.K. insurance underwriter for two years, he now writes articles for fractovia.org and other online portals. He can be contacted at- [email protected] | https://twitter.com/PankajSingh2605

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