Gorillas Closes Series C Funding Round for Nearly $1 Billion; Kağan Sümer and Niklas Östberg Comment
BERLIN, GERMANY - The grocery delivery sector is growing as Gorillas, a leader in instant on-demand grocery delivery in Europe, has raised nearly $1 billion in a recent Series C funding round. This pivotal investment comes just seven months after the grocery innovator successfully raised $290 million in its Series B funding in March 2021. As it continues to expand, Gorillas has recently bolstered its global senior leadership team, appointing strong operators to facilitate the company’s future sustainable growth.
According to a press release, the Series C funding 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.
“The size of today’s funding round by an extraordinary investment consortium underscores the tremendous market potential that lies ahead of us,” said Kağan Sümer, Chief Executive Officer and Founder. “With Delivery Hero, we have chosen strong strategic support that is deeply rooted in the global delivery market and is renowned for having a 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 inception in June 2020, Gorillas has seen rapid growth, expanding to over 180 warehouses in nine international markets and delivering over 4.5 million orders in the past six months alone.
Now, the company is building on this recent success with its next phase of development, generating a scalable and robust business infrastructure while accelerating future growth. With this recent investment, the company will work to reinforce its footprint in existing markets while investing more deeply in its operations, people, technology, marketing, and finance infrastructures to help it continuously deliver an excellent customer experience.
“Gorillas has been setting new standards for the delivery industry by offering an efficient and sustainable alternative to traditional grocers,” said Niklas Östberg, Chief Executive Officer and Co-Founder of Delivery Hero. “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.”
This investment also raises questions about Gorillas’ upcoming growth in the North American market, as the company announced its expansion into the U.S. back in May. As grocery delivery becomes increasingly popular, the company’s ambitious growth strategy will also increase access to fresh produce in the communities it serves.
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