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Glovo: €150M for artificial intelligence in the delivery sector


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BY : Diego GutiérrezJanuary Mon, 2020

Spanish home delivery company Glovo has raised €150m with its latest stake sale to continue its growth.

It did so in a round led by Abu Dhabi sovereign wealth fund Mubadala.

GLOVO

Glovo is a Start Up based in Barcelona, which allows users to instantly receive and ship any product within the same city..

Since its birth in Barcelona in 2015, it has consolidated its position in the markets where it is present:

  • Europe
  • Latin America
  • Africa

In fact, it is part of the two top players from delivery in 24 of the 26 countries where it operates, and has established itself as a global leader in the sector.

GROWTH AND REINFORCEMENT

In addition, the Catalan company continues to drive its international growth and to reinforce its engineering team to take its technological system to the next level.

Thus, it has recently entered the Polish market with the acquisition of Pizza Portal by 35M€and has invested in a second hub technological in Warsaw.

FORECASTS

Glovo plans to expand its international technology team by hiring an additional 300 engineers by mid-2020, with 40 specialised engineers and 50 digital profiles in its new Warsaw office.

It will also improve the application, reduce waiting times for delivery drivers and users, and open up new Cook rooms.

Another important step will be the expansion of its "green" division.dark stores".

That is, own warehouses to centralise the distribution of products in order to improve the efficiency and time of their delivery drivers or "riders".

There are currently seven dark stores in Barcelona, Madrid, Buenos Aires and Lima, but plans to open 100 by 2021.

NEW SALE OF ITS SHAREHOLDING

In order to implement all these plans, Glovo has just carried out a sale partial shareholding by 150M€the second of 2019.

Last April it raised another 150M€.

The latter round December's Series E financing round was led by Abu Dhabi's sovereign wealth fund Mubadala.

The app has also benefited from the support of previous investors such as Drake Enterprises, Idinvest y Lakestar.

OTHER MAJOR INDUSTRY ROUNDS

APETEAT

Founded in 2015, ApetEat is a service of digital Catering corporate, offering Mediterranean dishes.

More than 70 dishes are available to eat daily, in the office.

Its service is based on four fundamental pillars:

  • Product
  • Service
  • Technology
  • Commitment

In 2019, in its first partial shareholding sale, the company managed to 1M€ for its development.

APPSHEET

Appsheet is an American intelligent, no-code platform for enterprise applications..

It also enables business users to leverage their data and create powerful applications.

Founded in 2014, it connects with a variety of data sources, such as Google Drive, Office 365, Dropbox, y Box.

In its latest round of financing, it sold part of its shares for $15M.

Our diferentiation

Market Research Technology
Our team of market analysis specialists is continuously analyzing the investments of the most active markets in the industry in order to unceasingly contribute ideas of the current market situation and identify the most relevant trends for senior management. We integrate the most relevant sources of information which allows us to discover the most interesting companies for venture capital and similarly helps us to identify the investors with the highest probability of involvement in an M&A process to ensure the success of our sell-side operations.

The reports and deductions of our advisors provide a broad view of the sector, both geographically and from the complementary or adjacent markets perspective.
Technology Data Analytics
for M&A
Advanced data anlytics is a weapon". Intelfin is an artificial intelligence tool we use for investing and creating value in SMEs through competitive analytics and the enterprise environment.

IntelFin consists of a cognitive system, which, through the application of advanced analytical technologies, facilitates the automation of investment and financing decisions in the field of non-listed companies and especially SMEs in high-growth sectors.

The information related to these companies is characterized by their lack of transparency and heterogeneity; thus, it is necessary to develop an advanced analysis which is as much predictive as prescriptive and is developed in a natural language custom, suitable to obtain greater clarity and knowledge of the investment scope.

The IntelFin system focuses especially on analyzing the variables that define and influence the competitive environment of a sector and the positioning of a company, analyzing their influence on future value creation. Therefore, IntelFin supports strategic decision-making to senior management by resolving questions such as:

¿What are my competitors' priorities, strategies and expansion plans? Who's my competition? Which competitor is most likely to grow at a higher rate?
Which areas of activity/business models will receive the most investment? Which sectors are most attractive to investors?
Which companies are going to experience the most growth in the near future? Which companies are most likely to receive investment or be acquired?
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We have developed training programs in an innovative set-up which guarantees our teams the acquisition of technical competences both in the field of corporate finance and in the field of psychology, that is much needed when it comes to negotiation processes.

We have a culture of continuous improvement of our processes, closely related to the use of information systems that allow the enhancement of internal communication between our teams, as well as external communication with our customers. Hence, we extend best practices identified internally in an efficient and rapid manner among our members.

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