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    GreenFire Energy secures funding from French multinational company Vallourec

    GreenFire Energy secures funding from French multinational company Vallourec

    Rivian may become the biggest U.S.  market entrant on the IPO list this year

    Rivian gets a $1.5 billion incentive from the government for its manufacturing plant in Georgia

    Disney’s Ex-CEO invests and joins metaverse company Genies

    Disney’s Ex-CEO invests and joins metaverse company Genies

    Rakuten Symphony to acquire Robin.io for an undisclosed amount

    Rakuten Symphony to acquire Robin.io for an undisclosed amount

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      GreenFire Energy secures funding from French multinational company Vallourec

      GreenFire Energy secures funding from French multinational company Vallourec

      Rivian may become the biggest U.S.  market entrant on the IPO list this year

      Rivian gets a $1.5 billion incentive from the government for its manufacturing plant in Georgia

      Disney’s Ex-CEO invests and joins metaverse company Genies

      Disney’s Ex-CEO invests and joins metaverse company Genies

      Rakuten Symphony to acquire Robin.io for an undisclosed amount

      Rakuten Symphony to acquire Robin.io for an undisclosed amount

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      US Delivery Startup Gopuff Strikes $15 billion in Valuation After Raising Fresh $1 billion in Funding

       407 total views,  1 views today

      USTechTimes Editor by USTechTimes Editor
      August 3, 2021
      US Delivery Startup Gopuff Strikes $15 billion in Valuation After Raising Fresh $1 billion in Funding

      Gopuff is building out a food-based, logistics-fueled transportation business.

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      Gopuff, a US startup capitalizing on its instant delivery services of essential commodities for a flat fee of $1.95, closed a large tranche of funding to help it scale its service further across the country and worldwide. It has secured $1 billion in its latest Series H funding round.

      The latest round of infusion values the Philadelphia-based company at $15 billion. The fresh funding comes on the heels of a $1.15 billion round earlier this year as it aims to become the go-to solution for immediate consumer needs.

      Investors in Gopuff’s latest funding round include Blackstone’s Horizon platform, Guggenheim Investments, Hedosophia, MSD Partners and Adage Capital, and existing investors Fidelity Management and Research Company, Softbank Vision Fund 1, Atreides Management and Eldridge.

      The instant delivery market is heating up

      Quick commerce firms are witnessing high demand, especially for locally sourced products among their city-dwelling customers. Grocery items are topping the list in this category. Globally the delivery market is heating up with competitors like Getir, out of Turkey, backed by Sequoia and others.

      Europe alone saw a surge in the number of such startups like Flink, Gorillas, Glovo, Zapp, Cajoo and Weezy. Even in India local startup including the ones in the food delivery segment is fast disrupting the quick delivery market. Gopuff co-founder Rafael Ilishayev said in a recent podcast interview that local products are “a powerful lever for stickiness with customers.”

      Gopuff’s expansion plans

      Founded in 2013, the company operates more than 450 sites across North America and the UK, including around 285 micro-fulfillment centers and the recently acquired BevMo! locations. The company is open 24/7 in many markets, as it looks to fulfill customer orders of food and drinks and cleaning, home, and other products.

      “As Gopuff continues to define the instant needs economy, we are thrilled to have new leading global partners on board, along with the support of our long-time investors. This funding round is further validation of the success of our model,” said Rafael Ilishayev, who is co-founder and co-CEO of Gopuff alongside Yakir Gola.

      Gopuff will use the new funds to accelerate its expansion across North America, the UK and Europe, and enhance its technology and expand its team. Scott Minerd, the global chief investment officer of Guggenheim Investments, said, “Gopuff has quietly built a very strong business and solidified itself as the leading player, continuing to define this evolving category.

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      USTechTimes Editor

      USTechTimes Editor

      USTechTimes.com is an independent new media site that focuses on the latest technology and digital news in the United States and around the world. The site focuses on new startup launching, startup funding, and development in the startup space.

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