Instant delivery startup Getir announced that it has closed a new $768 million Series E funding round. Following this deal, the company reached a valuation of $11.8 billion.
Mubadala Investment Company is leading the round, with Abu Dhabi Growth Fund (ADG), Alpha Wave Global, Sequoia Capital and Tiger Global also participating.
Originally from Turkey, Getir has quickly expanded its service across Europe and the U.S. Unlike traditional grocery delivery services, Getir lets you order groceries without having to pick a delivery slot.
Behind the scenes, Getir has built dense networks of micro-fulfillment centers in dozens of urban areas. Those dark stores are operated by Getir and the company also controls and owns the inventory of products.
The company has managed to attract 40 million app downloads across nine countries. Overall, Getir manages 1,100 dark stores. Getir is quite dominant in Turkey, currently operating in 81 cities, and covers 48 cities across the U.K., Germany, France, Italy, Spain, Netherlands, Portugal and the U.S.
“We are defining the ultrafast delivery sector and this latest round of funding is a testament to Getir’s position as industry pioneer,” Getir founder Nazim Salur said in a statement.
