Berlin-based on-demand delivery startup Gorillas secures close to $1b Series C funding, the largest European round in its sector to date
Gorillas, the European market player in instant on-demand grocery delivery, has successfully raised close to $1 billion in Series C funding round, being the largest funding of a non-listed business Europe's grocery delivery sector has seen to date.
The round was led by European delivery champion Delivery Hero, and included further investments by its existing investors Coatue Management, DST Global, Tencent, Atlantic Food Labs, Fifth Wall, Greenoaks, A*, and new investors G Squared, Alanda Capital, Macquarie Capital, MSA Capital and Thrive Capital. This new funding comes 7 months after Gorillas successfully raised USD 290 million in its Series B funding in March 2021.
Kağan Sümer, CEO and Founder, Gorillas: "The size of today's funding round by an extraordinary investment consortium underscores the tremendous market potential that lies ahead of us. 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."
Since its founding in June 2020, Gorillas has grown rapidly to operate over 180 warehouses in 9 international markets, delivering over 4.5 million orders in the past 6 months alone. Following this rapid international growth, Gorillas is now entering the next phase of its development, building a scalable and robust business infrastructure while accelerating future growth. The capital raised allows Gorillas to reinforce its footprint in existing markets while investing more deeply in its operations, people, technology, marketing and finance infrastructures. These investments will help Gorillas to continuously deliver an excellent customer experience.
With Elmar Broscheit as CFO, Adrian Frenzel as COO, and Deena Fox as CPO, Gorillas has recently expanded its global senior leadership team by hiring strong operators to facilitate the company's ambitions for future sustainable growth.
Niklas Östberg, CEO and Co-founder, Delivery Hero: "Gorillas has been setting new standards for the delivery industry by offering an efficient and sustainable alternative to traditional grocers. 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."