DoorDash has led the on-demand delivery service provider’s latest round, following in the corporate venturing footsteps of peers Delivery Hero and Zomato.
Food delivery service DoorDash has led a $750m series B round for Germany-based grocery ordering app operator Flink, TechCrunch reported today, one of the wave of companies in the sector moving into corporate venturing.
Abu Dhabi state-owned investment vehicle Mubadala Capital and unnamed new and returning backers also took part in the round, which valued Flink at $2.85bn post-money. It also included debt financing from unnamed entities.
Founded in late 2020, Flink has built an online platform that allows users to buy grocery items for delivery within 10 minutes. It operates in some 60 cities across its home country, Austria, the Netherlands and France.
Bloomberg first reported the involvement of DoorDash, which went public in a $3.37bn initial public offering in December 2020, in the round in Septmber this year when its investment closed. It has been looking to back delivery startups in Europe such as Germany and the…