Delivery Hero Takes $235M Stake in Gorillas

October 19, 2021

Delivery Hero has invested USD 235 million (EUR 200 million) in the Berlin-based on-demand delivery startup Gorillas Technologies GmbH (“Gorillas”). Leading the series C funding round, which saw the participation of Tencent, Coatue, DST, Dragoneer, and other top tier investors and raised close to USD 1 billion at a pre-money valuation of USD 2.1 billion, Delivery Hero now owns approximately 8% of Gorillas.

The investment highlights Delivery Hero’s commitment to advancing quick commerce (“q-commerce”) globally. Delivery Hero is proud to support companies that disrupt the delivery landscape through an innovative and entrepreneurial spirit. 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.

Niklas Östberg, CEO and Co-Founder of Delivery Hero said, "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 and based in Berlin, Gorillas provides consumers instant access to essential grocery products. The on-demand grocery delivery company operates a network of warehouses that are located in the city centers and set up for optimized picking and packing to ensure fast delivery. The startup has grown tremendously, opening over 140 warehouses and delivering 4.5 million orders in the past six months. Gorillas operates in nine countries: Belgium, Denmark, France, Germany, Italy, Netherlands, Spain, the United Kingdom and the United States of America.

Kağan Sümer, CEO of Gorillas added, "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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