Spanish delivery app Glovo gets US$121mil for ‘dark stores’


A delivery courier for Glovo checks his phone on the street in Milan, Italy. The closely held company started operating dark-supermarkets in late 2019 to diversify away from restaurant deliveries. — Bloomberg

Spanish food delivery startup Glovo has struck a deal with Swiss real estate firm Stoneweg SA to invest €100mil (RM490.69mil) to expand its network of convenience stores.

Stoneweg will build and refurbish real estate for the “dark stores”, which are delivery-only convenience markets, in countries where Glovo is already operating, such as Spain, Italy, Portugal and Romania, Glovo said in a statement on Jan 19.

Subscribe now and receive FREE sooka plan for 1 month.
T&C applies.

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Tech News

Musk now says it's 'pointless' to build a $25,000 Tesla for human drivers
Google defeats lawsuit over gift card fraud
Russian court fines Apple for not deleting two podcasts, RIA reports
GlobalFoundries forecasts upbeat Q4 results on strong demand from smartphone makers
Emerson sharpens automation focus with offer for rest of AspenTech in $15 billion deal
Palantir shares surge to record as AI boom powers forecast raise
Tax fraud investigators search Netflix offices in Paris and Amsterdam, says source
Singapore's Keppel to buy Japanese AI-ready data centre
Tesla increases wages for staff at German gigafactory by 4%
Apple explores push into smart glasses with ‘Atlas’ user study

Others Also Read