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Gopuff valued at US$15 billion after raising funds from global investors

REUTERS -Delivery startup Gopuff said on Friday it raised US$1 billion from global investors, including Guggenheim Investments and SoftBank Vision Fund 1, valuing the company at around US$15 billion.

The new valuation represents a jump of nearly 69per cent from US$8.9 billion that the company was valued at, after its previous fundraising in March.

The company, which delivers items like food, alcohol and medicines, partnered with Uber Technologies Inc in May to expand the delivery of essential items during the COVID-19 pandemic.

Gopuff said it will use the new funds to further expand into North America, the UK and across Europe along with using them for hiring and making investments in its technology.

The Philadelphia-based company could potentially file to go public later this year, Reuters reported in March, citing a source close to the matter.

(Reporting by Sohini Podder and Niket Nishant in Bengaluru; Editing by Shailesh Kuber and Uttaresh.V)

Source: Reuters


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