Riyadh, February 07, 2023, SPA -- 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 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.
The CEO of Nana, Sami Alhelwah, is celebrating this monumental milestone and commented, “We are extremely delighted with the success of this investment round led by the Kingdom Holding Company and Uni-Ventures. This milestone is a motivator for us to strengthen Nana’s position as the leading company within the region, as the success of this round of investments 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: “Through this investment, we look forward to supporting Nana in its leadership within the online grocery shopping sector in the Kingdom of Saudi Arabia and the Region, as part of the Kingdom Holding Company’s direction towards investments in emerging and promising Saudi companies while strengthening its local investment portfolio. We also affirm that we will continue to achieve efforts towards diversifying our investment portfolio while considering investments with 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 a promising company within the sector, considering its modern technologies and considerable expansion plans to become the leading company in supplying groceries to all households.”
The Kingdom Holding Company is considered one of the most successful and diversified global investment companies within the sector and one of the leading companies in the Kingdom of Saudi Arabia and Worldwide. The Kingdom Holding Company owns majority shares in various investment sectors ranging from hotel management, media and publishing, social networks, technology and numerous other sectors.
Uni-Ventures (a subsidiary of ORSCOM Investments Group) is an active Venture Capital Investment Company that has been part of the leading investors in this Series C round and invests in emerging companies capable of rapid and sizeable growth. Furthermore, the company invests in businesses across different stages of growth and within promising sectors. The company has specialized in bold investments both locally and globally.
Nana was launched in January 2016 as the first platform in Saudi Arabia to provide a digital solution that ensured all household grocery requirements were 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, delivering to customers within 15 minutes. Nana also seeks to increase its market share in the region, with an estimated market size of $165 billion.
--SPA
20:28 LOCAL TIME 17:28 GMT
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