What is Glovo?
Founded in 2014, Glovo operates a sophisticated logistics platform connecting customers with businesses and couriers via its mobile application. The company's core business revolves around facilitating the on-demand delivery of a wide array of products, including groceries and prepared meals, across its extensive operational footprint. Glovo's commitment to innovation in transportation and freight services is evident in its continuous efforts to optimize delivery solutions while aiming for a positive impact on the communities it serves.
How much funding has Glovo raised?
Glovo has raised a total of $1B across 7 funding rounds:
Private Equity
$2.1M
Series A
$5.6M
Series B
$35.2M
Series C
$92.7M
Series D
$169M
Series E
$167M
Series F
$530M
Private Equity (2015): $2.1M with participation from Antai Ventures and Cube Investments
Series A (2016): $5.6M led by Antai Venture Builder, Caixa Capital Risk, Entreu00e9 Capital, Seaya Ventures, and Bonsai Capital Ventures
Series B (2017): $35.2M supported by Entreu00e9 Capital, Caixa Capital Risk, Rakuten, Seaya Ventures, Bonsai Capital Ventures, and Cathay Innovation
Series C (2018): $92.7M, investors not publicly disclosed
Series D (2019): $169M backed by Drake, Lakestar, Korelya Capital, and Idinvest Partners
Series E (2019): $167M with participation from Drake Enterprises, Lakestar, Idinvest Partners, and Mubadala
Series F (2021): $530M led by Luxor Capital Group LP
Key Investors in Glovo
Cathay Innovation
Cathay Innovation is a global venture capital firm that supports entrepreneurs by connecting them to a worldwide ecosystem. The firm invests in multi-stage startups that are making a positive impact through technology, with a focus on sectors such as AI, healthcare, and sustainable delivery solutions.
Lakestar
Lakestar is a venture capital firm dedicated to partnering with visionary tech entrepreneurs to fund innovative ideas and companies that shape modern life, focusing on sectors such as Deep Tech, Healthcare, Fintech, and Digitalisation.
Idinvest Partners
Idinvest Partners finances and supports entrepreneurs at different stages of their business development, operating as a mid-market private equity company founded in 1997.
What's next for Glovo?
With substantial capital investment, Glovo is poised for continued expansion and enhancement of its delivery services. The company's strategic focus on leveraging technology to streamline logistics and broaden its service offerings suggests a trajectory aimed at solidifying its market leadership. Future growth is likely to involve further penetration into existing markets and potential expansion into new territories, supported by ongoing innovation in its platform and operational efficiency.
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