Gorillas Raising $950 Million Amidst European Delivery Wars

Gorillas, one of the biggest of a crop of European startups in the convenience delivery market, has finalized a $950 million series C fundraising round, valuing the company at $3 billion, according to two people with direct knowledge of the situation. The fundraising is the latest example of the investor frenzy around startups seeking to deliver groceries, booze and vapes from neighbourhood fulfillment centres to peoples’ doors in 20 minutes or less.

German delivery company Delivery Hero is leading the round, the people said, while existing investors, including China conglomerate Tencent and U.S. VC firms Coatue Management, DST and A-Star Partners are also taking part. The new funding will be used by the company to continue expanding in its major European markets, including Germany, U.K, Spain and France, according to those involved in the deal. But the company also has sights set on the United States, where black-clad bike and scooter riders began delivering to customers in New York in recent months.