Gorillas secures close to USD 1 billion in Series C funding, raising the largest European round in its sector to date

USA - English

• Deutschland - Deutsch

- With close to USD one billion capital, Gorillas has successfully raised the largest funding round of a non-listed business in the European grocery delivery sector.

- Founded only last year, Gorillas has built a fast-growing, global business, opening 140 warehouses and delivering over 4.5 million orders in the past six months alone.

- The fresh capital allows Gorillas to double down on investments in its operations, technology, and marketing, among other strategic growth initiatives, while continuing to offer an excellent customer experience.

BERLIN, Oct. 19, 2021 /PRNewswire/ -- Gorillas, the European market leader in instant on-demand grocery delivery, has successfully raised close to USD one billion in a Series C funding round. It is the largest funding of a non-listed business Europe's grocery delivery sector has seen to date. The 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^[1], MSA Capital and Thrive Capital. This new funding comes 7 months after Gorillas successfully raised USD 290 million in its Series B funding in March 2021.

Since its founding in June 2020, Gorillas has grown rapidly to operate over 180 warehouses in 9 international markets, delivering over 4.5 million orders in the past 6 months alone. Following this rapid international growth, Gorillas is now entering the next phase of its development, building a scalable and robust business infrastructure while accelerating future growth. The capital raised allows Gorillas to reinforce its footprint in existing markets while investing more deeply in its operations, people, technology, marketing and finance infrastructures. These investments will help Gorillas to continuously deliver an excellent customer experience.

With Elmar Broscheit as CFO, Adrian Frenzel as COO, and Deena Fox as CPO, Gorillas has recently expanded its global senior leadership team by hiring strong operators to facilitate the company's ambitions for future sustainable growth.

"The size of today's funding round by an extraordinary investment consortium underscores the tremendous market potential that lies ahead of us. With Delivery Hero, we have chosen a strong strategic support that is deeply rooted in the global delivery market, and is renowned for having 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." says Kağan Sümer, CEO and Founder of Gorillas.

"Gorillas has been setting new standards for the delivery industry by offering an efficient and sustainable alternative to traditional grocers. 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." says Niklas Östberg, CEO and Co-Founder of Delivery Hero.

ABOUT GORILLAS

Gorillas, founded by CEO Kağan Sümer, builds an infrastructure for the fastest last-mile delivery of essential human needs. The on-demand delivery startup needs just a few minutes to get a user's desired goods from the cart to the user's desired location. Users of the app benefit from access to more than 2,000 essential items at retail prices for a delivery fee of just 1.80€. By disrupting the shopping and supply chain experience of traditional retail companies, Gorillas is shaping new grocery consumer behaviour (Need-Order-Get). In contrast to established gig economy models, Gorillas employs all of its riders and has hired a diverse team of more than 11,000 employees globally – spreading true change in its community. In a little over one year, Gorillas has expanded to more than 55 cities, including Amsterdam, London, Paris, Madrid, New York, Milan and Munich, and built more than 180 warehouses across 9 countries.

^[1]  An entity managed by Macquarie Capital Principal Finance.

Photo - https://mma.prnewswire.com/media/1663559/Gorillas_riders_crew.jpg
Logo - https://mma.prnewswire.com/media/1652039/Gorillas_Logo.jpg

SOURCE Gorillas Technologies GmbH