Barcelona-based multi-category delivery service Glovo has entered the history books with their €450 million series F funding round.
The largest funding round for a Spanish startup to date, Glovo is expected to use the investment to expand presence in their existing 20 markets, and focus more intently on the Q-Commerce (short for Quick Commerce) division.
Just over two months ago, Glovo announced their €100 million partnership with Geneva-based real-estate developer Stoneweg in order to beef up the network of dark stores. In little more than a month later, Glovo announced the appointment of former vice-president of engineering at American Express CTO Narek Verdian in a move to develop dark store tech.
Presumably, Verdian will deploy newly developed technologies within the Q-Commerce division, a key part of the Glovo strategy.