The Venture Codex

Participated · Equity · Aug 2021

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