Nana, the leading e-grocery delivery platform in Saudi Arabia and MENA has closed a record investment round (Series C) of 500 million riyals (133 million US dollars) led by Kingdom Holding Company (KHC) and Uni Ventures, with the participation of Sultan Holding, Al-Jasser Holding, Red Diamond Company, Dallah Al-Baraka Group, AlJammaz Holding and several other investors. This investment is considered one of the largest investment rounds amongst Saudi Startup Companies.
Sami Alhelwah, CEO of Nana, has celebrated this monumental milestone upon completion of this investment round: “We are extremely delighted with the success of this investment round which has been led by The Kingdom Holding Company (KHC) and Uni-Ventures. This milestone will serve as a motivator for us to strengthen Nana’s position as the leading company within the region, as the success of this round heavily supports our expansion plans and continuity towards the provision of more diversified services that serve all stakeholders.”
Eng. Talal Almaiman, CEO of Kingdom Holding Company, commented: “Our aim through this investment is to support (Nana) lead the e-commerce sector in the Kingdom of Saudi Arabia and the Region, as part of KHC’s pursue towards investing in emerging and promising Saudi startups while strengthening its local investments portfolio. We also remain committed to diversifying our investment portfolio, while considering investments that have exceptional returns.”
Eng. Nayef Aljebreen, Founder and CEO of Uni-Ventures, added: “We are happy to close this investment round for (Nana), and we continue to secure exceptional investment opportunities that support the entrepreneurship ecosystem and bold investments within the Saudi and GCC markets. Nana is considered the most promising company within the sector considering the modern technologies that it possesses, and considerable expansion plans set in place, to become the leading company in supplying groceries to all households.”
Nana was launched in January 2016, as the first platform in Saudi Arabia to provide a digital solution that ensured all household grocery requirements are met, and since its launch, the platform has broken records in the number of orders that have been fulfilled and the number of downloads that have been registered which exceed 10 million to date. Nana has innovated the Dark Store Model in the Saudi market, whereby orders are delivered to customers within 15 minutes. Nana also seeks to increase its market share in the region which has an estimated market size of $165 billion.
Also Read: 10 Unique Startup Accelerators and Incubators in Saudi Arabia
Follow us on Instagram, LinkedIn, and Twitter for startup & business news and inspiring stories of MENA businesses, entrepreneurs, startups, innovators, investors, and change-makers.
To report any issue or error in the story, please email us editor [at] rasmal [dot] com.
Last Updated on February 20, 2023 by Safiya K
