Instant delivery starts Getir announced that it has closed a new $768 million Series E founding round. After this deal, the company reached a valuation of $11.8 billion.
Mubadala Investments is leading the founding round with Abu Dhabi Growth Fund (ADG), Alpha Wave Global, Sequoia Capital and Tiger Global also participating.
Originally from Turkey, Getir has rapidly expanded its services across Europe and the US Unlike traditional grocery delivery services, Getir allows you to order groceries without having to choose a time. delivery point. As soon as you submit your order, Getir will start executing.
Behind the scenes, Getir has built a dense network of micro finishing centers in dozens of metropolitan areas. Those dark shops are run by Getir and the company also controls and owns the stock of products.
Then, the delivery staff on a scooter will deliver the goods to you as quickly as possible. That means you can expect to receive your order in “minutes,” as the company’s website says. More realistically, you’ll get it 20 to 40 minutes later.
The company has managed to attract 40 million app downloads across nine countries. Overall, Getir manages 1,100 dark stores. That’s why these instant delivery startups have been raising so many rounds of funding. It is a capital intensive industry.
Getir is pretty dominant in Turkey as it currently operates in 81 different cities. The company covers 48 different cities for all other markets – UK, Germany, France, Italy, Spain, Netherlands, Portugal and USA
“We are defining the superfast delivery space and this latest funding round is testament to Getir’s position as an industry leader. In such a vibrant and competitive market, we cannot stand still. This investment will allow us to further develop our offering and technology, as well as invest in our employees to continue to attract the best talent,” said Getir founder Nazim Salur said in a statement.
The company competes with Gopuff, Flicker, Gorillas, Zapp, Cajoo and more. In other words, it’s an extremely crowded market and there will be plenty of consolidation on the way.
