Total amount raised
$1.3 Billions
Latest funding date
6/1/2022
Location
Gorillas has successfully raised significant funding over multiple rounds, attracting a diverse group of investors. The company has garnered attention for its innovative approach to grocery delivery.
Keep reading to explore the intricacies of Gorillas' fundraising journey and the investors backing this dynamic platform.
What Is Gorillas?
Gorillas, founded in May 2020, is a Berlin-based delivery startup that allows customers to order groceries and other household items. The company was established by Elmar Broscheit, Jörg Kattner, Kağan Sümer, Ronny Shibley, Ugur Samut, and Şükrü Dağdelen.
With a workforce exceeding 10,000 employees, Gorillas has rapidly grown to become a significant player in the on-demand delivery market. The company focuses on delivering groceries within minutes, employing a full-time rider crew and sourcing products locally.
Gorillas' innovative approach and commitment to sustainability have garnered attention, leading to its acquisition by Getir. The company continues to operate with a strong emphasis on reducing food waste and emissions.
How Much Funding Has Gorillas Raised?
- Seed Round
- Amount Raised: €1.2M
- Date: August 2020
- Lead Investors: FoodLabs
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish initial operations and launch the service.
- Series A
- Amount Raised: $44M
- Date: November 2020
- Lead Investors: Coatue
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand operations and increase market presence.
- Series B
- Amount Raised: $290M
- Date: March 2021
- Lead Investors: Coatue, DST Global, Tencent
- Valuation at Round: $1.1B
- Motivation Behind the Round: To scale the business rapidly and compete in the fast-growing market of speedy grocery delivery.
- Secondary Market
- Amount Raised: Not publicly disclosed
- Date: September 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
- Series C
- Amount Raised: $1B
- Date: October 2021
- Lead Investors: Delivery Hero
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand market reach and enhance technological infrastructure.
- Non-Equity Assistance
- Amount Raised: Not publicly disclosed
- Date: June 2022
- Lead Investors: Google for Startups
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To receive strategic support and resources for growth.
Gorillas has raised a total of $1.334B. The current valuation is not publicly disclosed.
Key Investors
- Google for Startups
- Details: Google for Startups is a global initiative to help startups grow by providing them with the best of Google’s resources.
- Investment Focus Areas: Technology, Internet, Software
- Notable Investments: Stripe, Uber, Airbnb
- Delivery Hero
- Details: Delivery Hero is a global online food delivery service operating in over 40 countries.
- Investment Focus Areas: Food Delivery, Logistics, E-commerce
- Notable Investments: Glovo, Rappi, Foodpanda
- Coatue
- Details: Coatue is a global technology-focused investment manager.
- Investment Focus Areas: Technology, Media, Telecommunications
- Notable Investments: ByteDance, DoorDash, Snap Inc.
- DST Global
- Details: DST Global is a venture capital firm that invests in late-stage internet companies.
- Investment Focus Areas: Internet, Technology, E-commerce
- Notable Investments: Facebook, Alibaba, Spotify
- Tencent
- Details: Tencent is a Chinese multinational conglomerate holding company.
- Investment Focus Areas: Internet, Technology, Gaming
- Notable Investments: Tesla, Snap Inc., Epic Games
What's Next for Gorillas?
Gorillas is poised to capitalize on the growing demand for ultra-fast grocery delivery, with opportunities to expand its network of dark grocery stores across Europe and beyond. The company’s innovative model of delivering groceries within minutes has already attracted significant investor confidence, as evidenced by its $290 million Series B funding round. This rapid growth suggests a substantial market opportunity, particularly in densely populated urban areas where convenience is paramount.
Future fundraising prospects look promising, with continued interest from major investors like Coatue, DST Global, and Tencent. As Gorillas scales its operations, it may attract additional capital to support further expansion and technological advancements. However, the company will need to navigate challenges such as maintaining service quality, addressing labor issues, and competing with other well-funded players in the on-demand delivery space. Ensuring consistent delivery times and managing operational costs will be crucial as Gorillas continues to grow.
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