Venture Capital: Delivery Hero Takes $235M Chunk Of Gorillas’ $1B Funding Round
Delivery Hero now owns about 8% of Gorillas.
Delivery Hero (ETR: DHER), which is headquartered in Berlin, Germany and offers its local delivery services in over 50 countries around the globe, announced today its investment of US$235 million in the Berlin-based on-demand delivery start-up Gorillas Technologies via the latter’s series C funding round. Delivery Hero led the round which valued the delivery startup at US$ 2.1 billion pre-money. Tencent, Coatue, DST, Dragoneer, and other top tier investors also participated in the round. (Delivery Hero)
Fast-growing delivery startup specializing in rapid service
Gorillas was founded only in 2020 and the fast-growing startup became a unicorn in March. It has opened over 140 warehouses in nine countries and delivered 4.5 million orders in the past six months.
“Within a year, we have successfully developed Gorillas to become a leading instant on-demand delivery player. This investment underpins our global ambition and the opportunities the industry holds. We are excited about Delivery Hero’s investment as we start the next phase of our development. We have similar visions of what the future of delivery looks like and we are thankful to be backed by a prominent player such as Delivery Hero,” said Kağan Sümer, CEO.
“The Gorillas team has an exceptional customer focus driving the highest retention rates we have seen in the industry,” said Niklas Östberg, CEO and Co-Founder of Delivery Hero. “This has enabled them to reach over USD 300 million revenue run-rate in only one year with continued double digit monthly revenue growth.”
Delivery Hero has an avowed commitment to quick commerce (“q-commerce”) and Gorillas likely checked all their boxes.
“As a European unicorn, Gorillas has shown their ability to accelerate the wave of q-commerce while growing their local footprint at an impressive pace,” added Delivery Hero in their announcement.
Related Story: Gorillas, Which Delivers Groceries Immediately, Lands $290M
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