Delivery Hero Invests in On-Demand Grocery-Delivery Startup
October 19 2021 - 2:15AM
Dow Jones News
By Cristina Roca
Delivery Hero SE said Tuesday that it has taken a minority stake
in on-demand grocery-delivery company Gorillas Technology GmbH.
The Berlin-based delivery platform led a Series C funding round
for the startup, investing $235 million and giving Berlin-based
Gorillas a pre-money valuation of $2.1 billion. Tencent Holdings
Ltd. was also among the investors participating in the round.
Delivery Hero now owns about 8% of Gorillas, it said.
The investment shows Delivery Hero's commitment to advancing
quick commerce globally, the company said. Founded in 2020,
Gorillas operates in nine countries in Europe and North America and
opened 140 warehouses in the past six months.
Write to Cristina Roca at cristina.roca@wsj.com
(END) Dow Jones Newswires
October 19, 2021 02:00 ET (06:00 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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