German food delivery giant Delivery Hero leads $1 billion investment in grocery start-up Gorillas

The online grocery delivery firm is now valued at $3.1 billion following the cash injection.A courier for German grocery delivery start-up Gorillas, on his way to deliver an order in Berlin on July 8, 2021.has invested $235 million in Gorillas, an online grocery start-up, as part of a $1 billion funding round.

Gorillas was founded in May 2020 but has grown at a rapid clip as demand for its service, which ships groceries to people's doors in as little as 10 minutes, took off during the coronavirus pandemic. It's one of several European start-ups competing in an increasingly crowded space. Rivals include Turkish company Getir, British firm Zapp and German peer Flink., Coatue, DST and Dragoneer also invested.

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Who cares. The workers are figuring out the gamed and distorted capital markets funneled too much money to tech. Sure, they don't know it was artificial, but they're recognizing the results.

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