Saudi Delivery Startup Ninja Achieves Unicorn Status with Massive Funding Round
The Saudi quick-commerce startup Ninja has officially reached unicorn valuation following a substantial $250 million Series C funding round, marking a major milestone for the company and the Kingdom's tech ecosystem.
By the Numbers
$250 Million: The value of the new Series C funding round.
$1 Billion+: The company's new unicorn valuation.
$300 Million+: Total funding raised by Ninja to date.
15 Minutes: The rapid delivery time promised to customers for groceries and other items.
A Landmark Funding Round
The funding round was co-led by HungryPanda and PeopleFund, alongside significant participation from existing prominent Saudi investors, including STV and Raed Ventures. This powerful mix of international and local backers solidifies Ninja's position as a leading player in the quick commerce sector.
The Rise of Quick Commerce in Saudi Arabia
Ninja's achievement of unicorn status highlights the explosive growth and immense investor confidence in the quick-commerce market within the MENA region, particularly in Saudi Arabia. The significant capital injection is expected to fuel the company's expansion and further disrupt traditional retail by offering ultra-fast delivery of groceries and other essentials.
About Ninja
Founded in 2020, Ninja is a quick-commerce platform operating in Saudi Arabia. The company specializes in delivering a wide range of products, including groceries, fresh produce, and household items, directly to consumers in as little as 15 minutes. Ninja operates its own network of dark stores and delivery riders to fulfill orders rapidly and has quickly expanded its presence across major cities in the Kingdom.
Looking Ahead: Fueling Regional Expansion
With this fresh capital, Ninja is poised for aggressive growth. The company plans to use the funds to scale its operations across Saudi Arabia, enter new markets in the MENA region, and further invest in its technology and logistics infrastructure. This includes expanding its dark store network and growing its team to meet the increasing demand for instant delivery services.
Source: Waya Media