Tuesday, October 19, 2021
Startup has grown tremendously
Delivery Hero secures shares in gorillas
The DAX group Delivery Hero participates in the lightning delivery service Gorillas: The restaurant delivery service has invested 200 million euros in the startup, which was founded last year, and receives eight percent of the shares in return. The infrastructure is to be further expanded with the fresh capital.
Delivery Hero takes a stake in the Berlin-based food delivery service Gorillas, thereby strengthening its quick commerce business. As the Dax group announced, Delivery Hero has acquired a minority stake of eight percent in Gorillas Technologies GmbH through an investment of 235 million US dollars or 200 million euros. Delivery Hero led Gorillas’ Series C financing round, in which Tencent, Coatue, DST and other high-profile investors were involved. Almost $ 1 billion had been collected for a “pre-money valuation” of $ 2.1 billion.
Delivery Hero justifies the investment with the fact that Gorillas are advancing the European delivery industry with innovations in quick commerce. As a European unicorn, Gorillas have proven that they can accelerate the Q-Commerce wave and at the same time expand their own local presence at an impressive pace. Delivery Hero sees Gorillas as one of the leading providers in Europe and the USA, said Niklas Östberg, CEO and co-founder of the Dax Group.
“The Gorillas team has an outstanding customer focus that results in the highest customer retention rates we’ve seen in the industry.” This has enabled the company to achieve a revenue run rate of over $ 300 million in just one year, with continued double-digit monthly revenue growth. Delivery Hero is firmly convinced that investments in innovative Q-Commerce providers benefit the entire industry and set a new standard. “
“Into a new growth phase” with new financial resources
Gorillas, founded in Berlin in 2020, is an on-demand delivery service that operates a network of warehouses in city centers that are designed for optimized order picking and packaging to ensure fast delivery. The startup has grown enormously, has opened over 140 warehouses in the past six months and shipped 4.5 million orders.
Gorillas operates in nine countries: Belgium, Denmark, Germany, France, Italy, the Netherlands, Spain, the United Kingdom and the USA and, according to its own information, now operates over 180 department stores. According to its own information, Gorillas is starting “a new growth phase” with the new financial resources.
First of all, Gorillas wants to further develop a “robust infrastructure” in order to prepare the ground for sustainable and scalable growth. The newly acquired capital is intended to expand the company’s presence in the existing international markets and strengthen the infrastructure for operations, human resources, product and technology development, marketing and finance. To implement the growth strategy, Gorillas was able to win Elmar Broscheit as CFO, Adrian Frenzel as COO and Deena Fox as CPO for his management team.