Delivery Hero today announced that it is taking a minority stake in the Berlin-based on-demand grocery delivery company Gorillas, investing $234 million (€200 million).
Leading the series C funding round, which saw the participation of Tencent, Coatue, DST, Dragoneer, and other top-tier investors and raised close to $1 billion at a pre-money valuation of $2.1 billion, Delivery Hero now owns approximately 8% of Gorillas.
“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.” Niklas Östberg, CEO and co-founder of Delivery Hero, said in a statement.
Established in 2020, Gorillas operates a network of warehouses located in city centers, set up for picking and packaging optimized to ensure fast delivery. The company, which currently operates in Belgium, Denmark, France, Germany, Italy, the Netherlands, Spain, UK, and the US, has opened more than 140 warehouses and delivered 4.5 million orders in the last six month.
“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.” Kağan Sümer, CEO of Gorillas, said.