Funding round
Glovo Series D
Glovo, which works in on-demand delivery services in Barcelona, raised $168M in a Series D round announced on 30 Apr 2019, led by Lakestar and Drake. 5 firms took part. It is Glovo's fifth venture round on record; the one before was a Series C in Jul 2018.
$168M
Amount raised
150,000,000 EUR converted
Not disclosed
Post-money valuation
5
Investors
2 leads
Valuation
What this round says about the price
Glovo did not disclose a valuation in this round. It came 9 months after Glovo's Series C. It is 16% of the $1.04B Glovo has raised in the venture rounds on record. Glovo raised again 8 months later: a Series E round of $167M in Dec 2019, at $1.00B post-money.
Glovo's funding rounds
Glovo has 7 venture rounds on record. This one is highlighted.
- Seed 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 this round 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
Lakestar and Drake led the round with 3 other firms.
Lead investors
- Lakestar backs 95 venture-backed companies new investor
- Drake new investor
Also in the round
- Idinvest Partners new investor
- backs 25 venture-backed companies new investor
- backs 33 venture-backed companies new investor
Joined the board: Dharmash Mistry (Lakestar).
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
The closest in time: Series D rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 3 Apr 2019 | $175M | $1.50B | Accel and GV |
| Motive Tech Companies | 23 Apr 2019 | $149M | $1.25B | Greenoaks Capital |
| Hardware Stores | 2 Apr 2019 | $123M | not disclosed | not named |
| Kurly Groceries | 1 Apr 2019 | $88M | not disclosed | not named |
| Metal Plating, Polishing & Coloring | 23 Apr 2019 | $70M | not disclosed | not named |
| Tech Companies | 25 Apr 2019 | $70M | $600M | Insight Partners |
| Tech Companies | 17 Apr 2019 | $27M | not disclosed | Viola Group |
| Tech Companies | 15 Apr 2019 | $27M | not disclosed | Blue Cloud Ventures |
Sources
Where this comes from
Reported by 6 sources.
Questions
Frequently asked
How much did Glovo raise in its Series D round?
Glovo raised $168M in its Series D round, announced in Apr 2019.
Who led Glovo's Series D round?
Lakestar and Drake led it, with Idinvest Partners, Korelya Capital and Seaya.
What was Glovo's valuation at the Series D round?
It was not disclosed.
Did Glovo raise again after this round?
Yes: a Series E round in Dec 2019 of $167M at $1.00B post-money.