Fast Grocery Delivery Service Firm Getir Raises $768M

Grocery delivery startup Getir has closed a $768 million Series E funding round, the Istanbul, Turkey-based company announced Thursday (March 17).

The transaction brings the company’s valuation to nearly $12 billion, reinforcing its position as a decacorn, a private, venture-backed company with a value exceeding $10 billion.

This latest investment will be used to support Getir’s growth, hire additional staff, and position itself as a sector leader, the company said.

“This investment will enable us to further develop our proposition and technology, as well as invest in our employees to continue to attract the best talent,” Getir founder Nazim Salur said in a statement.

The latest funding was led by Mubadala Investment Co., and included Abu Dhabi Growth Fund, Alpha Wave Global, Sequoia Capital and Tiger Global.

In December, Getir entered the New York City, Chicago and Boston markets with eyes to add its under-10-minute drop-off service for groceries and essentials across the U.S.

See also: Rapid Delivery Startup Getir Targets US Expansion

With nearly 30,000 employees globally, Getir is looking at big competition in the U.S. including Gopuff, an established rapid delivery startup gaining a larger foothold across the country, and DoorDash, which is valued at five times Getir’s valuation and just introduced its rapid delivery service.

Since its launch in 2015, Getir has expanded to Europe and the United States. It operates a network of more than 1,100 supermarkets in nine countries, nearly 40 million app downloads, and delivers 1 million orders daily.

Founded in Turkey, Getir makes deliveries in the United Kingdom, Germany, France, Italy, Spain, Netherlands, Portugal and the U.S. Getir operates in all 81 cities in Turkey and 48 cities across Europe and the U.S.