Rapid delivery firm Gorillas raises just under $1bn

Rapid food delivery firm Gorillas has raised just under $1 billion in its latest funding round.

The round was led by Berlin-based delivery firm Delivery Hero, who invested $235 million at a valuation of $2.1 billion.

Gorillas founded in May 2020, operates in 55 cities, and employs more than 11,000 people.

The firm forms part of a wave of new companies promising sub-15-minute deliveries, which are currently receiving large venture capital rounds.

Gorillas competitor Getir, an Istanbul-based grocery delivery app, raised $550 million in a June Series D funding round, giving it a total valuation of $7.5 billion.

Delivery Hero are one of mainland Europe’s largest food delivery firms and claim to have partnered with 500,000 restaurants worldwide.

The news comes after Gorillas raised $290 million in a Series B round earlier this year.

Delivery Hero now has an 8 per cent stake in the company, whose other investors include Chinese tech giant Tencent, Coatue, DST, and Dragoneer.

Gorillas said funds will be used to expand in existing markets and to invest in hiring, technology, marketing, and finance.

Gorillas has also previously announced plans to expand into the US.

More new entrants are eyeing the UK rapid delivery market; last week Russian tech firm Yandex entered the UK's super-fast delivery market with a service called “Yango Deli”.

The Russian firm’s service aims to deliver a selection of 2,500 goods to customers in London within 15 minutes.

"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," said Delivery Hero chief executive Niklas Oestberg.

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