Funding round
Glovo Seed
Glovo, which works in on-demand delivery services in Barcelona, raised $2.1M in a Seed round announced on 24 Nov 2015. 2 firms took part. It is Glovo's first venture round on record.
$2.1M
Amount raised
2,000,000 EUR converted
Not disclosed
Post-money valuation
2
Investors
no lead named
Valuation
What this round says about the price
Glovo did not disclose a valuation in this round. It is Glovo's first venture round on record, in the year it was founded (2015). It is under 1% of the $1.04B Glovo has raised in the venture rounds on record. Glovo raised again 9 months later: a Series A round of $5.6M in Aug 2016. Its next priced round, a Series E in Dec 2019, valued it at $1.00B.
Glovo's funding rounds
Glovo has 7 venture rounds on record. This one is highlighted.
- Seed this round 24 Nov 2015 $2.1M
- Series A 11 Aug 2016 $5.6M
- Series B 4 Oct 2017, led by Rakuten Capital and Cathay Innovation $35M
- Series C 1 Jul 2018, led by Seaya, Cathay Capital and Idinvest $134M
- Series D 30 Apr 2019, led by Lakestar and Drake $168M
- Series E 19 Dec 2019, led by Mubadala and Ventures Europe $167M$1.00B post-money
- Series F 1 Apr 2021, led by Lugard Road Capital and Luxor Capital Group $530M
Investors
Who put money in
2 firms took part; no lead investor was named.
Investors
- backs 3 venture-backed companies new investor
- Cube Investments new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
The closest in time: 1 in Food delivery, then Seed rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Food delivery | 9 Feb 2016 | $2.2M | not disclosed | not named |
| Tech Companies | 16 Nov 2015 | $8.6M | not disclosed | not named |
| Warehousing & Storage | 12 Nov 2015 | $4.4M | not disclosed | Second Avenue Partners and SV Angel |
| Software Development Services | 5 Nov 2015 | $3.0M | not disclosed | Spark Capital |
| Data Solutions | 4 Nov 2015 | $3.0M | $100M | not named |
| Clinics - Surgeons & Physicians | 20 Nov 2015 | $2.9M | not disclosed | Collaborative Fund |
| Tech Companies | 6 Nov 2015 | $2.5M | $9.0M | not named |
| Tech Companies | 16 Nov 2015 | $2.5M | not disclosed | Octopus Investments |
Sources
Where this comes from
Reported by 1 source.
Questions
Frequently asked
How much did Glovo raise in its Seed round?
Glovo raised $2.1M in its Seed round, announced in Nov 2015.
Which investors took part in Glovo's Seed round?
Antai and Cube Investments.
What was Glovo's valuation at the Seed round?
It was not disclosed.
Did Glovo raise again after this round?
Yes: a Series A round in Aug 2016 of $5.6M.