Instant on-demand grocery delivery company, Gorillas Technologies, has raised nearly $1 billion in a Series C funding round.
Founded in June last year, Gorillas now operates more than 180 warehouses in nine international markets and has reportedly delivered over 4.5 million orders in the past six months.
The company claims that its latest funding round marks the largest raised by a non-listed business in the European grocery delivery sector to date.
The Series C round – which follows a $290 million Series B funding announcement in March – was led by Delivery Hero. The European delivery company invested $235 million and now owns approximately 8% of Gorillas.
Berlin-headquartered Gorillas’ latest funding push was also backed by existing supporters, such as Coatue Management, DST Global and Tencent, as well as new investors including G Squared, Alanda Capital and Thrive Capital.
Rapid Grocery Delivery Start-Up Gorillas Secures Nearly $1bn In Funding
The new funds will allow Gorillas to strengthen its footprint in its existing markets and further invest in its operations, people, technology, marketing and finance infrastructures.
“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, CEO and founder of Gorillas.
“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.”
Niklas Östberg, CEO and co-founder of Delivery Hero, added: “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.”