VCs in $290m round for grocery delivery platform Gorillas

Atlantic Food Labs, Dragoneer and GreenOaks also participated in the round, TechCrunch reported.

The round values the company at more than $1bn, according to Sifted and TechCrunch.

The company intends to use the fresh funding to expand its presence in Europe, as well as in New York in the US.

Food and drink delivery and online supermarket startups have boomed amid the coronavirus lockdowns in place across much of Europe since February 2020. One competitors to Gorillas is Berlin-based Flink, which announced that it had raised $52m in seed funding earlier in March 2021, including from new investor Target Global and existing investors Northzone, Cherry Ventures and TriplePoint Capital.

Sponsors and VCs have invested across a range of deal sizes in the sector in the past year; notable investments include online supermarket Rohlik.cz., Netherlands-based market peer Crisp, and France-based grocery delivery service Cajoo.

Exit prospects for such businesses also look promising; in Germany, food and drink conglomerate Oetker acquired drinks delivery platform Flashenpost from its VC backers in October 2020 in a deal that valued the company at €1bn.

Previous funding
Atlantic Food Labs made a seed investment in Gorillas in August 2020.

In November 2020, Coatue backed a $40m round for Gorillas. At the time, trade news publication Nordic 9 reported that the round would give Gorillas a $200m post-money valuation.

Company
Founded in 2020 by Kağan Sümer and Jörg Kattner, Gorillas is an online grocery delivery platform that claims to reach its customers within 10 minutes through its network of delivery riders. Customers place orders via an app and the company then fulfils orders from its own warehouse sites and operates in the Netherlands, the UK and Germany. It is based in Berlin and operates in 12 cities in total. According to LinkedIn, the company employs more than 1,000 staff.

People
Gorillas – Kağan Sümer (founder, CEO); Jörg Kattner (co-founder).

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• Topics
• Expansion
• DACH
• Consumer
• Venture
• Germany