Ultrafast delivery startup Gorillas announced on Tuesday it has raised nearly $1 billion in a Series C funding round led by German-based food-delivery service Delivery Hero, which said it invested $235 million.
The funding puts Gorillas at a pre-money valuation of $2.1 billion and gives Delivery Hero roughly 8% ownership of the company. Twelve other investors participated in the funding round, including existing investors DST Global, Tencent and Atlantic Food Labs and newcomers MSA Capital and Thrive Capital.
Gorillas said it will use the funds to invest more in its operations, technology and marketing as part of strategic growth initiatives in the increasingly competitive instant delivery space.
Source: Grocery Dive
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