Funding round
Glovo Series F
Glovo, which works in on-demand delivery services in Barcelona, raised $530M in a Series F round announced on 1 Apr 2021, led by Lugard Road Capital and Luxor Capital Group. 5 firms took part, 5 of them already investors. It is Glovo's seventh venture round on record; the one before was a Series E in Dec 2019.
$530M
Amount raised
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; its last disclosed one was $1.00B at the Series E (Dec 2019). It came 16 months after Glovo's Series E. It is 51% of the $1.04B Glovo has raised in the venture rounds on record. No later venture round is on record for Glovo.
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 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 this round 1 Apr 2021, led by Lugard Road Capital and Luxor Capital Group $530M
Investors
Who put money in
Lugard Road Capital and Luxor Capital Group led the round with 3 other firms. Lugard Road Capital, Luxor Capital Group, Delivery Hero Ventures and Drake Enterprises and 1 more had backed Glovo before.
Lead investors
- Lugard Road Capital existing investor
- Luxor Capital Group existing investor
Also in the round
- backs 12 venture-backed companies existing investor
- Drake Enterprises existing investor
- backs 22 venture-backed companies existing investor
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 F rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Sysdig Tech Companies | 28 Apr 2021 | $188M | $1.19B | Premji Invest and Third Point Ventures |
| Gupshup Software Development Services | 8 Apr 2021 | $100M | $1.40B | Tiger Global |
| Noom Nutritionists & Weight Loss Specialists | 25 May 2021 | $540M | not disclosed | Silver Lake |
| Dataminr Tech Companies | 23 Mar 2021 | $475M | $4.10B | Eldridge Industries |
| Vinted Salvage Merchandise & Thrift Stores | 12 May 2021 | $303M | $5.20B | EQT |
| Forter Tech Companies | 25 May 2021 | $300M | $3.00B | Tiger Global Management |
| Collective Health Insurance - Agents, Carriers & Brokers | 4 May 2021 | $280M | $1.50B | Health Care Service Corporation |
| Tech Companies | 17 Mar 2021 | $230M | $1.40B | Bessemer Venture Partners and Tiger Global |
Sources
Where this comes from
Reported by 7 sources.
Questions
Frequently asked
How much did Glovo raise in its Series F round?
Glovo raised $530M in its Series F round, announced in Apr 2021.
Who led Glovo's Series F round?
Lugard Road Capital and Luxor Capital Group led it, with Delivery Hero Ventures, Drake Enterprises and GP Bullhound.
What was Glovo's valuation at the Series F round?
It was not disclosed; its last disclosed one was $1.00B at the Series E (Dec 2019).