- Barcelona-based food delivery app Glovo has announced a €100 million ($121 million) investment from Swiss real estate firm Stoneweg.
- Across Europe, Turkish on-demand delivery app Getir has raised $128 million at a valuation of $850 million from investors including Tiger Global and Goodwater Capital, according to Webrazzi.
- Both startups provide same-day and next-day delivery of groceries and other online purchases, as well as restaurant delivery and logistics software for enterprises.
Why it matters:
Glovo — which operates in several European, African, and Latin American countries — is aiming to cement its position in so-called ‘q-commerce‘: ultra-quick, 30-minute-max delivery of groceries and other household goods purchased online.
As part of its strategic investment, Stoneweg will work with the Glovo to convert urban properties into ‘dark stores.’ These localized micro-fulfillment centers will enhance Glovo’s same-day delivery capabilities, with the Spanish company aiming to up its number of dark stores from 18 today to 100 by the end of 2021.
“In the wake of Covid-19, we believe that dark stores represent the future of post-pandemic retail, and I think we’ll see a permanent shift in consumer habits towards same-day and instant delivery,” founder and CEO Oscar Pierre said in a statement.
Meanwhile, Istanbul-based Getir will reportedly use its funding for geographic expansion. In the coming months, it is planning launches in the UK, Brazil, and Mexico. The latter will once again bring it into direct competition with Glovo, which exited the Turkish market last year.