Glovo, the on-demand delivery firm, in December, announced €150million ($167 million, Ksh16.7 billion)) in Series E funding. This investment has been led by Mubadala, with support from previous investors Drake Enterprises, Idinvest and Lakestar.
“We’re very pleased to welcome Mubadala as an investor, as well as to further strengthen our position within the industry,” Mr Oscar Pierre, Co-founder and CEO of Glovo said.
Glovo has secured its status as a unicorn, making it only the second privately held business in Spain to surpass a $1 billion (Ksh100 billion) valuation. The Barcelona-based start-up — which provides a technology platform to deliver everything from food to groceries and drinks — has consolidated its position within its markets, which include Africa, Europe and Latin America.
“To have achieved unicorn status is something truly exciting and a testament to the talent within the company, and their determination to keep innovating and disrupting the on-demand delivery space,” Mr Pierre said.
