Norway’s Gelato, which enables e-commerce entrepreneurs to produce and ship creations on-demand in the end-customer’s market, achieving fast order-to-delivery times with little to no inventory or investment, said it has raised $240 million in a new funding round which values the firm at just over $1 billion.
The investment current round was led by New York-based global private equity and venture capital firm Insight Partners, with participation from SoftBank Vision Fund 2, as well as funds managed by Goldman Sachs Asset Management, and existing investors, including Dawn Capital, John Hepburn, chairman of Gelato, SEB Pension Fund, and Tellef Thorleifsson (CEO of Norfund).
The capital injection will accelerate Gelato in the US and Asia, and its expansion of new local production hubs and products, including 3D printing.
“By bringing production of customized products to local markets all across our planet, we empower e-commerce sellers and the creator economy to serve any customer, anywhere, in a way that is much more cost-effective and sustainable,” said Henrik Müller-Hansen, CEO and founder of Gelato.
“Through software that connects to idle production capacity, our platform is taking an active part in transforming global manufacturing as we know it. As e-commerce continues to grow, so will our local production partners and their ability to create jobs in their local communities.”Henrik Müller-Hansen