Berlin food delivery start-up Gorillas is the latest fledgling firm to join the coveted club of companies valued at USD 1 billion or more. That was after it raised EUR 245 million. Even more impressively, the company achieved unicorn status although only being launched last May.
Gorillas’ main claim is that it can get groceries to users’ doors in ten minutes or less. It says it aims to service the changing needs of consumers who may live in smaller apartments with less space to store food.
“We believe that the weekly grocery run is outdated because people’s lives are increasingly spontaneous and shopping habits change accordingly,” Gorillas co-founder Kağan Sümer told the online platform Techcrunch. “This pandemic has accelerated the need for grocery deliveries. If we can order clothes and trinkets and have them delivered to our door, the same should be said for our essential needs.”
Customers pay a small free for delivery while the groceries are sold at normal retail prices. Gorillas operates in seven German cities, five Dutch ones and London, and it plans further international expansion, including to New York and Paris.
The massive investment in Gorillas reflects the current popularity of so-called quick-commerce.
“Every single VC is rushing to make a bet in the category,” Yacine Ghalim, partner at investment firm Heartcore, told online magazine Sifted.