Skip to main content

Advertisement

Advertisement

Business

Delivery Hero buys minority stake in grocery delivery startup Gorillas

Delivery Hero buys minority stake in grocery delivery startup Gorillas

File photo of Delivery Hero's logo. (Photo: Reuters/Fabrizio Bensch)

BERLIN: Delivery Hero said on Tuesday (Oct 19) it had invested US$235 billion in the Berlin-based grocery delivery company Gorillas, amid a boom in rapid delivery services.

The purchase means Delivery Hero will own 8 per cent of the fast-growing startup which operates in nine countries and has coveted unicorn status little more than a year after its foundation.

The investment is part of a series C funding round which has raised close to US$1 billion and saw participation by China's Tencent and Coatue, among other top-tier investors.

"We truly believe that investing in innovative q-commerce players will benefit the entire industry," said Delivery Hero chief executive Niklas Oestberg in a statement.

Source: Reuters/aj

Advertisement

Also worth reading

Advertisement