On-demand logistics platform Glovo raises €2M from Antai, Cube and Tuenti mafia

Glovo, the Barcelona-based and on-demand logistics platform, has closed a €2 million investment from Antai Ventures, Cube Investments and business angels associated to Tuenti.

glovo app barcelona

When I interviewed Glovo co-founder Sacha Michaud a few weeks ago, he admitted that the Barcelona-based logistics startup would announce in “coming weeks” a new and bigger round of funding. It only took a few days.

Techcrunch reports that Glovo has raised €2 million from various business angels, including Bernardo Hernández, Zaryn Dentzel (Tuenti) and Felix Ruiz (Jobandtalent), as well as investment firms Antai Ventures and Cube Investments.

As Michaud admitted a few days ago, the startup is looking to integrate itself with a larger number of online stores in order for Glovo to be included as a shipping and same-hour delivery option.

In the interview he said:

“If you think about, in a way we’re already indirectly working with more than 1,000 retail stores when we send our glovers to pick up stuff there. But, until very recently we haven’t held talks with these stores, we haven’t had a formal relationship with them. This is the next step in our growth, to talk and establish partnerships with them. We think we can both benefit from each other.”

Glovo is currently active in Madrid, Barcelona and Valencia and chargers consumers a €5.5 delivery fee. Glovers (couriers) keep 70 to 80 per cent of the fee.

Glovo competitor and also Barcelona-based Stuart recently announced a pre-launch €22 million round, once again highlighting how competitive the on-demand logistics space has become in recent times.