Spanish startup Glovo hits $1 bln "unicorn" valuation with Abu Dhabi funds | Nasdaq:
Spanish delivery startup Glovo said on Thursday it had achieved a valuation of $1 billion, after a new funding round attracted investment from Abu Dhabi sovereign wealth fund Mubadala.
The Barcelona-based firm said it raised 150 million euros ($165.33 million) from Mubadala and other investors such as venture capital fund Lakestar, as well as from Idinvest Partners and Drake QSR, which had already invested in Glovo in the past.
Glovo said this was the first funding round in which Mubadala had taken part and said the startup had now achieved "unicorn" status, a term used for a privately owned firm that achieves a valuation of $1 billion or more.
Glovo, which is active in 26 countries where it delivers everything from meals to groceries and medicines, is the third Spanish tech firm to surpass the $1 billion valuation mark.
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