Barcelona-based Glovo raises €150M funding: 3 things to know about rapidly growing delivery service

Barcelona-based Glovo raises €150M funding: 3 things to know about rapidly growing delivery service

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The popularity and ease of use of the internet have made any service accessible at the touch of a button. This has led to the online delivery of various services including food, medicines, gifts, etc. providing a great level of convenience to consumers.

To make use of the business opportunity, several startups are offering online delivery services. One such player is Glovo headquartered in Barcelona. It is one of the fastest growing delivery players in Europe.

Secures €150M funding

Glovo has just secured €150 million Series D funding led by Lakestar, an international venture capital firm and Drake along with participation from Idinvest Partners and Korelya Capital. This funding follows the €115 million Series C funding that the startup raised back in July 2018.

The company is in plans to use this investment to bolster growth and scale its team of engineers. The company is also in plans to expand on-demand innovations making it a must-have app for the urban lifestyle. Glovo will use the capital injection to fuel the expansion of supermarkets across its key markets. Also, it will help the delivery service offer a great experience to customers across the world.

Fast-growing delivery player

Founded in January 2015 by Oscar Pierre and Sacha Michaud, Glovo has witnessed rapid growth. In four years of its launch, the service has expanded to many new cities. It exists in Spain, France, Chile, Argentina, Portugal, Italy, Peru, Bolivia and more. It employs over 1,000 people and is a quickly growing delivery service in Latin America and EMEA.

Aims to become an all-in-one app

To become an everything app for city dwellers, Glovo is all set to invest heavily in growing delivery categories such as laundry, pharmacy products, groceries and alcohol. It is investing in the groceries sector by building dark supermarkets facilitating grocery delivery within 20 minutes from the time of placing the order. These stores stock up to 1,000 items for the service to collect and deliver to customers in Madrid and Barcelona.

Focuses on new project

The Barcelona-based delivery startup is focusing on a new project called Cook Room. It is a customer free space designed to help partners serve the orders efficiently. It has already opened Cook Rooms in the Spanish cities. It aspires to expand these dark kitchens across the globe.

“Glovo continues to scale rapidly and we have big ambitions for this round of investment,” said Oscar Pierre, Co-founder and CEO of Glovo. Our main priority is to invest in our people – our team have been fundamental to our success to date and as we grow we need an even bigger team of engineers to meet the demand we’re experiencing.”

“We are excited to invest behind Oscar and the Glovo team,” added Dharmash Mistry, Partner at Lakestar, who will be joining the Glovo board. “In only 3 years they have built a significant, multi-country, next generation, branded last mile express delivery company. The bold ambition to deliver ‘anything anywhere’ in less than 30 minutes will continue to change consumer behaviour around food and grocery delivery, and much beyond.”

Stay tuned to Silicon Canals for more updates in the tech startup world.

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These 10 standout tech startups have been selected for Future Hamburg Award 2019

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