Gorillas raises $1bn in Series C funding

European hot food delivery firm Delivery Hero has invested €200 million in Berlin-based ultra fast grocery delivery company Gorillas. This takes its stake in the firm to around 8%.

The Series C funding round also had the participation of Tencent, Coatue, DST, Dragoneer and a number of other major investors. Gorillas raised close to US$1 billion at a valuation of $2.1 billion.

Niklas Östberg, CEO and Co-Founder of Delivery Hero commented: “Delivery Hero is on a mission to advance quick commerce globally and we see Gorillas as one of the leaders in Europe and the US. The Gorillas team has an exceptional customer focus driving the highest retention rates we have seen in the industry. This has enabled them to reach over USD 300 million revenue run-rate in only one year with continued double digit monthly revenue growth. We truly believe that investing in innovative q-commerce players will benefit the entire industry and set a new standard for what a great customer experience looks like.”

Founded in 2020, the Berlin based ‘q-commerce’ company now has more than 140 warehouses and has delivered more than 4.5 million orders in the last six months. It operates in nine countries including seven in the EU, the UK and US.

Kağan Sümer, CEO of Gorillas said: “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.”

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