Global race for investmentsIn response to accelerating demand, online food delivery companies grew substantially during the pandemic and received record levels of funding, with the value of online food and meal delivery deals reaching a peak of 19.1 billion U.S. dollars in 2021. Big groups amassed significant funding and acquired smaller players to expand operations across the globe. With nine billion U.S. dollars funding as of early 2023, Delivery Hero’s brand portfolio includes several successful regional players like Spain’s Glovo, Turkey’s Yemeksepeti and Talabat in the Middle East and North Africa.
Istanbul-based Getir is also an example of locally brewed players that are strengthening their position and expanding beyond domestic markets. Founded in 2015, the startup launched its on-demand delivery platform in several EU countries as well as the United States. In December 2022, the company also announced it was acquiring Gorillas, a key rival in the instant grocery market.