Berlin Delivery Startup Gorillas Raises €244m From Investors
Gorillas, an online food delivery company based in Berlin, has raised €244 million from investors in a funding round led by Coatue Management, DST Global and Tencent Holdings Ltd.
The Series B funding round values Gorillas at more than $1 billion, giving the fast-growing startup coveted 'unicorn' status little more than a year after it was founded.
Users of the Gorillas app can order more than 2,000 food products and get them delivered for a flat-rate fee of €1.80 - a model that the company says seeks to disrupt old-style food retail.
Gorillas directly employs more than 1,000 riders and says it is now present in more than a dozen cities, including Amsterdam, London and Munich.
The company is less than a year old, having been founded last May by Jörg Kattner in Berlin. It uses a micro-fulfilment model, with a series of dark stores in the cities in which it operates.
“In contrast to established gig economy models, we employ more than a thousand riders directly,” Sümer recently told Tech Crunch. “Therefore, we invest in a strong career development program, rider security and a healthy working environment. Beyond that, all riders will receive a once-off payment”.
Rival delivery firm Deliveroo is in the process of completing an initial public offering in London, which will value the company at around £8.8 billion (€10.25 billion).
Goldman Sachs and JP Morgan are leading the IPO, while Bank of America, Citi, Jefferies and Numis are also part of the syndicate of banks managing the transaction.