Hero Buys Part of Gorillas in Food Delivery Deal
Delivery Hero, the self-proclaimed world-leading “quick commerce” company, has nibbled off an eight percent share of Gorillas. In return, the highly touted Berlin on-demand grocery start-up has received USD 235 million in fresh capital to take its Series C funding round, which also included China’s Tencent, to nearly USD one billion.
The deal creates a new powerhouse in the industry. Delivery Hero became part of the leading German stock index, the Dax, last year.
“Delivery Hero is on a mission to advance quick commerce globally and we see Gorillas as one o the leaders in Europe and the US,” said Delivery Hero CEO and cofounder Niklas Östberg in a statement. “The Gorillas team has an exceptional customer focus driving the highest retention rates we have seen in the industry.”
Gorillas promises grocery deliveries to customers’ doors within ten minutes. Within a year, it expanded to 55 cities in nine countries, and last March, it achieved unicorn status.
“We are excited about Delivery Hero’s investment as we start the next phase of our development,” said Gorillas CEO Kağan Sümer. “We have similar visions of what the future of delivery looks like and we are thankful to be backed by a prominent player.”