What is Glovo?
Founded in 2014, Glovo operates as a sophisticated technology company specializing in transportation and freight services. Its core value proposition lies in a multicategory delivery platform that facilitates the on-demand movement of food, groceries, and various retail items. By connecting delivery couriers with local merchants, the company has established a robust ecosystem that serves diverse markets across three continents. Glovo distinguishes itself through a commitment to innovative logistics solutions and sustainable community impact, positioning itself as a key infrastructure provider in the modern gig economy.
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 Seaya Ventures, Bonsai Capital Ventures, Entreu00e9 Capital, Antai Venture Builder, and Caixa Capital Risk
Series B (2017): $35.2M supported by Bonsai Capital Ventures, Caixa Capital Risk, Seaya Ventures, Rakuten, Cathay Innovation, and Entreu00e9 Capital
Series C (2018): $92.7M, investors not publicly disclosed
Series D (2019): $169M backed by Korelya Capital, Lakestar, Drake, and Idinvest Partners
Series E (2019): $167M with participation from Lakestar, Idinvest Partners, Mubadala, and Drake Enterprises
Series F (2021): $530M led by Luxor Capital Group LP
Key Investors in Glovo
Seaya Ventures
A leading European and Latin-American venture capital firm that invests in value-driven founders building global technology companies with a sustainable approach.
Lakestar
A venture capital firm dedicated to partnering with visionary tech entrepreneurs to fund innovative ideas and companies that shape modern life across various sectors.
Idinvest Partners
A mid-market private equity firm based in Paris that finances and supports entrepreneurs at different stages of their business development.
What's next for Glovo?
Looking ahead, Glovo is well-positioned to leverage its recent capital to deepen its penetration in existing markets while exploring new operational efficiencies. The company's strategic focus remains on optimizing its delivery network and enhancing the user experience through its mobile platform. As it moves beyond the scaling phase, the firm is expected to prioritize profitability and long-term sustainability, potentially exploring further integration of its logistics services with local retail partners to maintain its competitive edge in the rapidly evolving on-demand delivery landscape.
See full Glovo company page
