Online food ordering service Delivery Hero is leading a $950m series C round for Germany-based grocery delivery service Gorillas, The Information has reported, citing two people with direct knowledge of the situation.
The round includes internet group Tencent, investment management firm Coatue Management, investment firm DST Global and venture capital firm A-Star Partners, and reportedly values the startup at $3bn.
Sources told Bloomberg the round was sized at $1bn, with Delivery Hero contributing nearly $200m of the total.
Founded in 2020, Gorillas offers groceries to customers in 57 cities across eight European countries for delivery within 10 minutes of an order, selling items at retail price.
The cash will go to European growth and comes as the company has moved into the United States having begun deliveries in New York, according to the sources.
Gorillas raised approximately $1.3m in seed capital from investors including Atlantic Food Labs before adding $44m in a December 2020 series A led by Coatue that also featured unnamed European investors.
Tencent, Coatue, DST Global and Atlantic Food Labs subsequently joined Greenoaks and Fifth Wall in a $290m series B round in March this year valuing it in excess of $1bn.
