Rapid grocery delivery firm Getir announced today the close of its $768m Series E funding round, bringing the company’s valuation to $11.8bn.
Led by Mubadala Investment Company, the round included Abu Dhabi Growth Fund (ADG), Alpha Wave Global, Sequoia Capital and Tiger Global as major investors. With the latest investment, Getir said it becomes Europe’s first grocery delivery decacorn, having raised $2bn to date.
Since January 2021, Getir has expanded across Europe and the US, now reaching a total network of over 1,100 grocery stores and close to 40 million app downloads across nine countries, delivering almost one million orders daily. The group stated that the latest investment will be utilized to further support its rapid growth within the countries in which it operates.
Nazim Salur, Founder of Getir, commented: “We are defining the ultrafast delivery sector and this latest round of funding is a testament to Getir’s position as industry pioneer. In such an exciting and competitive market we cannot afford to stand still. This investment will enable us to further develop our proposition and technology, as well as invest in our employees to continue to attract the best talent.”
Ibrahim Ajami, Head of Ventures and Growth at Mubadala, added: “Groceries represent one of the largest offline to online opportunities globally, led by fast-changing consumer habits which have accelerated online purchasing adoption. We believe Getir will continue to prove to be an industry leader as it expands into new categories and geographies. We remain impressed by management’s ability to enter new markets whilst providing an exceptional customer experience. We are proud to continue our partnership with Getir as it embarks on the next phase of its growth.”
