Mubadala , the sovereign fund of Abu Dhabi and main shareholder of Cepsa , has landed in the distribution company Glovo after leading a round of investment 'Series E' of 150 million euros , which has had the support of previous investors such as Drake Enterprises , Idinvest and Lakestar .

After the closing of this round, the fifth in the history of the company and the second in 2019, Glovo has reached its status of 'unicorn' becoming the second emerging company in Spain that exceeds a valuation of 1,000 million dollars , according to informed in a statement. The first to do so was Cabify , the vehicle platform with driver.

"Having achieved unicorn status is something really fascinating and evidence of the talent in the company, as well as the determination to continue innovating and being disruptive in the home delivery sector. As a company, we continue to retain the same vision as We have always had: that our users immediately acquire everything they need from their city, "said Glovo co-founder and CEO Oscar Pierre .

Frederic Lardieg , a reference partner for Mubadala Capital, said that the investment in Glovo reflects the commitment to the European technology market. "We are excited to lead this round of financing to allow the Glovo team to continue to grow and support the company in its expansion," he stressed.

Glovo will continue to innovate in the home delivery sector and develop its multi-category offer , with the delivery of food and parapharmacy products, as well as other items for daily use. To boost the growth of its supermarket category, Glovo will continue to seek strategic alliances, similar to the agreement reached with Carrefour and will invest in its own supermarket service.

Currently, the company has seven points operating in Europe and Latin America, located in Barcelona, ​​Madrid, Buenos Aires and Lima, and plans to inaugurate one hundred by 2021.

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