- Delivery Hero is taking a minority stake in the Berlin-based on-demand grocery delivery company Gorillas, investing USD 235 million (EUR 200 million)
- Through this investment, Delivery Hero aims to strengthen the quick commerce ecosystem while supporting innovation in the delivery industry
- Delivery Hero led Gorillas' series C funding round, now holding approximately 8% in the company
Berlin, 19 October 2021 - Delivery Hero SE ("Delivery Hero"), the world's leading local delivery platform, today announced that it has invested USD 235 million (EUR 200 million) in the Berlin-based on-demand delivery startup Gorillas Technologies GmbH ("Gorillas"). Leading the series C funding round, which saw the participation of Tencent, Coatue, DST, and other top tier investors and raised close to USD 1 billion at a pre-money valuation of USD 2.1 billion, Delivery Hero now owns approximately 8% of Gorillas.
The investment highlights Delivery Hero's commitment to advancing quick commerce ("q-commerce") globally. Delivery Hero is proud to support companies that disrupt the delivery landscape through an innovative and entrepreneurial spirit. As a European unicorn, Gorillas has shown their ability to accelerate the wave of q-commerce while growing their local footprint at an impressive pace.
Niklas Östberg, CEO and Co-Founder of Delivery Hero, said: "Delivery Hero is on a mission to advance quick commerce globally and we see Gorillas as one of the leaders in Europe and the US. 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."
Founded in 2020 and based in Berlin, Gorillas provides consumers instant access to essential grocery products. The on-demand grocery delivery company operates a network of warehouses that are located in the city centers and set up for optimized picking and packing to ensure fast delivery. The startup has grown tremendously, opening over 140 warehouses and delivering 4.5 million orders in the past six months. Gorillas operates in nine countries: Belgium, Denmark, France, Germany, Italy, Netherlands, Spain, the United Kingdom and the United States of America.
Kağan Sümer, CEO of Gorillas, said: "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."
ABOUT DELIVERY HERO
Delivery Hero is the world's leading local delivery platform, operating its service in around 50 countries across Asia, Europe, Latin America, the Middle East and North Africa. The company started as a food delivery service in 2011 and today runs its own delivery platform on four continents. Additionally, Delivery Hero is pioneering quick commerce, the next generation of e-commerce, aiming to bring groceries and household goods to customers in under one hour and often in 10 to 15 minutes. Headquartered in Berlin, Germany, Delivery Hero is listed on the Frankfurt stock exchange since 2017, and became part of the leading index DAX (Deutscher Aktienindex) in 2020. For more information, please visit www.deliveryhero.com
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 ten minutes to get a user's desired goods from the cart to the user's desired location. By disrupting the shopping and supply chain experience, Gorillas is shaping new grocery consumer behaviour. 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. In a little over one year, Gorillas has expanded to +55 cities and built more than 180 warehouses across 9 countries. www.gorillas.io
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