๐ย ๐ฐย Delivery hero acquires a majority stake in Glovo and announced it at … 11 PM on the 31st of December. By acquiring another 39.4% share of Glovo (it already owned 44%), Delivery Hero basically now owns the Spanish delivery company. It also seems that Glovo failed to raise the money it was looking for at the right valuation (as Gorillas did).
๐ฌ๐งย ๐งบย Farmdrop, a UK-based, โethicalโ online supermarket shuts down. It had raised almost $42M in the past 9 years. This shows that investors may not be keen to keep funding delivery companies that after some time (and the best period for them to grow) have not proven their ability to generate profitable revenue.
๐ฐย Other interesting deals:
- Liquid Death, the โwater in a canโ startup, raised another $75M at a staggering $525M valuation. Its sales growth over the past two years is impressive.
- Stenon, an AgTech German startup raised $20M for its sensors that provide โon the spotโ data on soil that previously farmers only had through laboratories.
- Remilk, an Israeli startup, raised $120M for its precision fermentation technology (applied to cheese). It will develop a facility in the US while awaiting approval to sell its first products.
๐ย ๐ณ๐ฑย The Dutch government announced a โฌ25B plan to reduce its livestock numbers. With the plan, farmers will be incentivized to reduce the number of animals in order to decrease the amounts of nitrogen produced.
