Gorillas closes series C funding round at almost $1bn

Gorillas closes series C funding round at almost USD 1bn
Source: Gorillas

Gorillas has closed its series C round of funding at almost USD 1bn raised. This is to date the largest funding secured by a non-listed business in Europe’s nascent quick grocery delivery sector.

Delivery Hero led the round, which saw contributions existing investors Coatue Management, DST Global, Tencent, Atlantic Food Labs, Fifth Wall, Greenoaks A*. New investors G Squared, Alanda Capital, Macquarie Capital, MSA Capital and Thrive Capital also participated.

This series C round comes seven months after the delivery startup raised a USD 290mn series B round in March this year. Funding will reinforce the company’s footprint in existing markets (of which there are nine). It will also make further investments in operations, people, technology, marketing and finance infrastructure.

Gorillas was founded in 2020 by Kagen Sumer. It operates over 180 warehouses in nine markets and has delivered 4.5mn orders in the past six months. Users of the app benefit from access to more than 2,000 essential items at a retail delivery fee of EUR 1.80. The company is disrupting the shopping and supply-chain experience of traditional retail companies. It has a team of over 11,000 employees.