Golama, a leading e-grocery delivery service based in Moscow, will receive 500 million rubles (about $7.7 million at the current exchange rate) from a state investor after just one year of operations.
The investment will be provided by Veb Ventures (previously known as VEB Innovations), a venture fund launched by Vnesheconombank in 2011 to support innovative projects.
As the Russian online tech resource Rusbase reported, the parties signed a formal statement of intent as part of the St Petersburg International Economic Forum, which took place earlier this month. [Update Jan. 15, 2020: Veb Ventures’ commitment was conditioned by the participation of a co-investor.]
Golama currently works in Moscow and the surrounding cities of Balashikha, Dolgoprudny, Mytishchi, Reutov and Khimki, accepting online orders and delivering groceries from such chains as METRO, Vkusvill, and Lenta. Golama offers super express delivery thanks to using drivers and foot couriers in the closest vicinity to the clients. Customers can place their orders with the help of a Golama app and receive them as soon as one hour later.
The startup is going to use this capital injection to expand its services in Moscow. Early next year, it will launch operations in other cities in Russia with a population above one million residents.
Golama says it has already received about 400 million rubles in external funding since March 2018 when it started its express delivery operations in Moscow. In particular, last January it raised 150 million rubles (approximately $2.3 million) in equity funding from an unnamed individual investor.
Update Jan. 15, 2020: Golama is ceasing activities this month, having failed to attract a co-investor to participate in the deal along with VEB Ventures (source: VC.RU)
