German On-demand Grocery Delivery Startup Gorillas Raises $290 Million

Gorillas, the Berlin-based on-demand grocery delivery startup has raised $290 million. According to the company, the latest round of funding makes it the fastest unicorn across Europe to eclipse the $1 billion mark.

The Series B round of funding was led by DST Global, Tencent, Coatue Management, Greenoaks, Dragoneer, and Fifth Wall. In December last year, Gorillas had raised a $44 million Series A round of funding.

The recently raised funds will be utilized to fuel the growth of Gorillas which aims to establish its presence in ten countries.

SEE ALSO: Stripe Valuation Reaches $95 Billion after Recent Fundraising

How does Gorilla operate?

At present, Gorilla primarily operates as a chain of dark grocery stores that provides delivery of essential items in ten minutes. Gorilla is among the group of startups that are focused on establishing delivery-only grocery stores within residential neighborhoods.

These stores operate on minimum inventory levels and carry out deliveries in a limited delivery radius to complete deliveries at the earliest. Gorilla has stores in over 12 cities across Europe in locations including Munich, Berlin, Amsterdam, and London to name a few.

In the upcoming months, Gorillas has set its eyes on opening a store in Paris and launching in New York City.

Stiff competition among on-delivery startups

The scale of the funding following a Series A for grocery-related companies does not come as a surprise. Gorilla is just one of the many startups operating within the grocery delivery space across Europe.

Other European startups in this space who have managed to raise funds recently include Jiffy, Flink, and Weezy. Across the Atlantic, in the U.S, GoPuff, DoorDash, Fridge No More have also made the headlines for their innovative approach to on-demand delivery.

More about Gorillas

Gorillas was founded by Kağan Sümer. It is an on-demand grocery delivery startup that promises to deliver goods from warehouses to the doorstep in just 10 minutes. In its press release, Grocery said that Gorilla app users stand to benefit from gaining access to over 2000 items at retail prices in ten minutes.

Currently, Gorillas has a team of 1000 riders, who, according to the company, will benefit from the employment contracts.

Karandeep V

Karandeep V

Karandeep was born in Pune, Maharashtra, an upcoming metropolitan city in the Western region of India. While most members of his family are engineers, he had different ideas. He was more inclined toward exploring the non-technical aspects of a business, which is why he studied Bachelors of Business Administration at Symbiosis International University, Pune.  Having said that, his love for new and upcoming technologies remained intact, which is why he has written extensively about technology throughout his career. After a brief stint with a gaming company at the beginning of his career, he discovered that his love for writing was not temporary.  Being a tech geek, he always liked installing and playing around with new applications on his mobile devices and the home desktop. He was fascinated by how technology can simplify even the most mundane and complex tasks with just a few commands. He keeps a close eye on how businesses use different tools to streamline their operations to boost productivity and efficiency. At ToolsMetric, he writes product reviews that cover the main features and specifications of different enterprise applications. The sheer amount of innovation and hard work that goes into building these tech solutions is one of the reasons why Karandeep loves reviewing these tools. Besides product reviews, he also writes interesting news articles and blogs that track the latest developments in the tech industry.  When he is not writing, you can find him rooted to his seat playing video games, watching movies, or supporting his favorite football team. Since his childhood, he has always loved to travel and explore new places. Traveling is a major part of his life due to a myriad of reasons such as experiencing new cultures, food, and traditions. His other hobbies include playing football, cooking, and running.  You can find him on LinkedIn here.

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