Gorillas, a Germany-based grocery delivery startup, raised Euro 810 million in a Series C round led by German delivery company Delivery Hero on 24 September 2021 after this round company increased its value to $3 billion.
Investors: Delivery Hero led the latest funding round with participation from Tencent, Coatue Management, DST, and A-Star Partners.
The objectives behind the fundings: The company plans to deploy current proceeds to expand its operation in major European markets, including Germany, UK, Spain, and France.
Founded in 2020 by Kagan Sumer and Jorg Kattner, Gorillas is a grocery delivery provider that they claim to deliver in just 10 minutes at retail prices. The company is on a mission to change the way that people do groceries. The startup’s offering includes a wide selection of fresh fruits, dairy, vegan products & cooled drinks, plus unique choices from our local community partners. Within the last year, Gorillas has developed a strong international footprint, operating in nine countries, 55 cities and employing more than 11,000 people. The startup has become Europe’s fastest-growing startup and Germany’s fastest ever unicorn company. An app platform is available in Germany, the Netherlands, and the UK. The startup follows a strong and comprehensive career development program. Gorillas expanded its executive leadership team with two new hires – Elmar Broscheit as Chief Financial Officer (CFO) and Adrian Frenzel as Chief Operating Officer (COO), after having appointed HR executive Deena Fox as Global Chief People Officer in early August.
What the Founder has to say:
“We believe that the weekly grocery run is outdated because people’s lives are increasingly spontaneous and shopping habits change accordingly,” says Sümer, CEO and Co-Founder, Gorillas, during Series B round. “Additionally, this pandemic has accelerated the need for grocery deliveries. If we can order clothes and trinkets and have them delivered to our door, the same should be said for our essential needs. Gorillas help customers get what they need when they need it, whether this is their weekly grocery list or the tomatoes they forgot for tonight’s pasta recipe,” he added.
What the Investor has to say:
A representative for Delivery Hero said the firm is “always looking for new opportunities to drive the industry forward” and declined to comment further. A Gorillas spokesperson declined to comment on “funding speculations.”
The UK’s food and grocery market is anticipated to grow by 10% during 2019-2022. The market share of Online platforms is projected to increase from 6.2% in 2019 to 8.9% in 2022. The value of the online channels will overtake the hypermarkets in 2020.
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