Delivery Hero has announced that it has invested €200 million in the Berlin-based on-demand delivery startup Gorillas Technologies.
The investment means that Delivery Hero now owns approximately 8% of Gorillas.
The move highlights Delivery Hero's commitment to advancing quick commerce globally and supporting companies that disrupt the delivery landscape through an innovative and entrepreneurial spirit.
Gorillas has displayed its ability to accelerate the wave of quick commerce while growing its local footprint at an impressive pace, Delivery Hero noted.
'Exceptional Customer Focus'
Niklas Östberg, CEO and Co-Founder of Delivery Hero, said, "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."
The investment is part of a series C funding round, which raised close to USD 1 billion and saw the participation of Tencent, Coatue, DST, and other top-tier investors.
Founded in 2020, Gorillas offers consumers instant access to essential grocery products through a network of warehouses located in city centres and set up for optimised picking and packing to ensure swift delivery.
The startup opened over 140 warehouses and delivered 4.5 million orders in the past six months.
'Instant On-Demand Delivery Player'
Kağan Sümer, CEO of Gorillas, commented, "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."
Gorillas operates in nine countries, including Belgium, Denmark, France, Germany, Italy, Netherlands, Spain, the United Kingdom and the United States of America.
In August, Delivery Hero raised its 2021 revenue and gross merchandise volume outlook, but tweaked its forecast for adjusted core operating margin to minus 2%, at the lower end of previous forecast.
© 2021 European Supermarket Magazine – your source for the latest Technology news. Article by Dayeeta Das. Click subscribe to sign up to ESM: The European Supermarket Magazine.
