Delivery Hero said on Tuesday it had invested $235 million in the Berlin-based grocery delivery company Gorillas, amid a boom in rapid delivery services.
The purchase means Delivery Hero will own 8% of the fast-growing startup which operates in nine countries and has coveted 'unicorn' status little more than a year after its foundation.
The investment is part of a series C funding round which has raised close to $1 billion and saw participation by China's Tencent and Coatue, among other top-tier investors.
"We truly believe that investing in innovative q-commerce players will benefit the entire industry," said Delivery Hero Chief Executive Niklas Oestberg in a statement.