A Norweigan platform Gelato lets e-commerce entrepreneurs worldwide produce and ship on-demand creations in the end customer’s market, thereby achieving fast order-or-delivery times without any inventory or investment. Now, the platform has bagged $240 million in a funding round.
The investment was led by Insight Partners, a New York-based global private equity venture capital firm alongside participation from SoftBank Vision Fund 2 and funds managed by Goldman Sachs Asset Management. Also, existing investors including Dawn Capital, chairman of Gelato, John Hepburn, SEB Pension Fund, and CEO of Norfund Tellef Thorleifsson participated in the round.
Besides the investment, Adam Berger, Managing Director at Insight Partners joined Gelato’s board.
Gelato will use the capital to accelerate its penetration into the market and growth in the US and Asia. Also, it will fuel its expansion into new local production hubs as well as products such as 3D printing.
