KSA’s Ninja secures Pre-SEED funding
Ninja, a ‘quick commerce’ grocery delivery company based in KSA, has closed a Pre-SEED round.
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Q-commerce startup Ninja closes a Pre-SEED round led by Bunat Ventures, alongside multiple VCs from the region, the USA, and family offices in Saudi. Ninja is a technology start-up company founded and operated in the Kingdom of Saudi Arabia, specializing in the quick commerce space.
Over the past year, sizable funds have been raised by on-demand delivery startups with the Q-commerce proposition picking up across the MENAPT region. Q-commerce startups promise instant delivery with dark stores or fulfillment centers positioned strategically to ensure timely delivery. Turkey’s Getir has secured the biggest round last year raking in $768M while MENA has also highlighted the quick trend with some major rounds including investments in Egypt-based Yalla Fel Sekka and UAE-based Yalla Market, Kuwait-based Fiz, and Iraq-based TipTop, as well as in KSA-based B2B Q-commerce startup Barq collectively raising more than $28M in funds in 2022.
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Bunat Ventures is a regional venture builder VC with a focus on Saudi Arabia. Commenting on the deal, Khaled Zainalabedin & Khalid Saad, cofounders and Managing Partners of Bunat Ventures, “As a venture builder, we look for and support teams who are passionate about technology and empowering change in the Kingdom of Saudi Arabia. Our objective is to invest and setup value adds startups that would become leading players within Saudi Arabia and be positive contributors to Vision 2030. We are proud of the progress of Ninja’s team, both on the development of the technology, building the dark stores in record time, deployment of the teams and becoming live in three major regions of the Kingdom.”
Users of the app benefit from access to thousands of items from fresh produce to skincare, beauty, and pet food. Chadi Hajjar, cofounder and Chief Investment Officer of Bunat Ventures, said, “The Innovation Ecosystem of our region and Saudi specifically is healthily growing, we keep striving to be the first in of best-led startups, building from ideation to going live is exciting, especially when the team is getting things done for a reason, leading for impacting."
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