Gelato, an Oslo, Norway-based platform that enables ecommerce entrepreneurs to produce and ship creations on demand in the end-customer’s market, raised USD $240m in funding.
The round was led by Insight Partners, with participation form SoftBank Vision Fund 2, as well as funds managed by Goldman Sachs Asset Management, and existing investors Dawn Capital, John Hepburn, chairman of Gelato, SEB Pension Fund, and Tellef Thorleifsson (CEO of Norfund). Adam Berger, Managing Director at Insight Partners, will be joining Gelato’s board.
The capital will accelerate the company’s market penetration and growth in the US and Asia, and its expansion of new local production hubs and products, including 3D printing.
Founded by CEO Henrik Müller-Hansen in 2007, Gelato provides a platform that enables ecommerce entrepreneurs around the globe to produce and ship creations (such as wall art, clothing, books, and home decor) on demand in the end-customer’s market, achieving fast order-to-delivery times with little to no inventory or investment, Through its network of more than 100 production partners in 32 countries, ecommerce sellers can already reach 5 billion consumers worldwide within 72 hours. The company has offices in Barcelona, Boston, London, Madrid, Moscow, Mumbai, Santiago, São Paulo, Shanghai, Stockholm, Tallinn, and Tokyo.