Food delivery service provider Delivery Hero paid $235m today to lead a series C round for Germany-based on-demand grocery shopping platform Gorillas sized at almost $1bn.
Delivery Hero acquired an 8% stake in Gorillas through the round, which included internet technology group Tencent as well as investors including Coatue Management, DST Global and Dragoneer, valuing it at $3.1bn post-money.
The series C round was initially reported last month to be sized at $950m to $1bn and also backed by A-Star Partners.
Gorillas has built an online platform that allows users to buy groceries in nearly 60 cities across nine markets which include multiple European countries and the United States, with a delivery time of 10 minutes.
Tencent had taken part in the company’s $290m series B round, in March 2021, which was closed at a valuation above $1bn and which also featured Coatue, DST Global, Atlantic Food Labs, Greenoaks and Fifth Wall.
Coatue had already led a $44m series A round for Gorillas in December 2020 that included unnamed European investors, after the company had secured roughly $1.3m in seed funding four months before from backers including Atlantic Food Labs.
Gorillas CEO Kağan Sümer said: “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.”
