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Friday, June 21, 2024

Getir, a Turkish firm, has raised $768 million in funding to further develop its technologies

Getir has concluded a $768 million fundraising round. The Mubadala led round will enable the fast delivery startup to further develop its technology.

Getir, a Turkey-based quick delivery firm, announced on Thursday that it has concluded a $768 million fundraising round, valuing the company at over $12 billion, just a few months after expanding to the United States.

Mubadala led the Series E investment round. As key investors, Abu Dhabi Growth Fund (ADG), Alpha Wave Global, Sequoia Capital, and Tiger Global participated in the investment round.

It’s founder Nazim Salur said the startup will use the money to further develop its proposition and technology. The investment will also enable Getir to attract the greatest talents, Salur added.

Getir, an Istanbul-based startup founded in 2015, pioneered the category of 10-minute delivery for consumers who order via smartphone app, with riders dispersed from neighbourhood warehouses that supply vital products.

The company has 48 locations in seven European nations, the United States, and all major cities in its own country.

Getir raised over $1 billion in three investment rounds last year, the most recent of which valued the company at more than $7.5 billion.


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