Total amount raised
$1.8 Billion
Latest funding date
3/1/2022
Location
Getir has successfully navigated 10 funding rounds, with its most recent being a Series G round led by Mubadala. The company has attracted a total of 20 investors, including notable names like Revo Capital.
Keep reading to explore the intricacies of Getir's fundraising journey and the investors backing this innovative platform.
What Is Getir?
Getir is a technology company that provides on-demand delivery services of groceries for local customers. The company operates in the delivery service, e-commerce, logistics, and mobile apps industries.
Founded in Besiktas, Istanbul, Turkey, Getir has grown significantly and now employs between 1001 and 5000 people. The company has been acquired by Mubadala and continues to expand its reach and services.
How Much Funding Has Getir Raised?
- Series A Round
- Amount Raised: USD 38,000,000
- Date: January 2020
- Lead Investors: Michael Moritz
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support initial growth and market penetration.
- Series B Round
- Amount Raised: USD 128,000,000
- Date: January 2021
- Lead Investors: Base Partners, Crankstart Foundation
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand operations and enhance technology infrastructure.
- Series C Round
- Amount Raised: USD 300,000,000
- Date: March 2021
- Lead Investors: Sequoia Capital, Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate international expansion and market reach.
- Series D Round
- Amount Raised: USD 555,000,000
- Date: June 2021
- Lead Investors: Tiger Global, Sequoia Capital, Silver Lake, DisruptAD, Mubadala Investment Company
- Valuation at Round: Over USD 7.5 billion
- Motivation Behind the Round: To expand services in Europe and the United States.
- Series E Round
- Amount Raised: USD 768,000,000
- Date: March 2022
- Lead Investors: Mubadala, Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale operations and enhance delivery capabilities.
- Series F Round
- Amount Raised: USD 500,000,000
- Date: September 2023
- Lead Investors: Mubadala
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue global expansion and improve service offerings.
- Series G Round
- Amount Raised: USD 250,000,000
- Date: June 2024
- Lead Investors: Mubadala
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To sustain growth and enter new markets.
Total Amount Raised: USD 2,539,000,000. Current Valuation: Over USD 7.5 billion.
Key Investors
- Mubadala Investment Company
- Details: Mubadala is an Abu Dhabi-based sovereign wealth fund that manages a diverse portfolio of investments. It is a key investor in Getir and has led multiple funding rounds, including the Series G round.
- Investment Focus Areas: Technology, aerospace, healthcare, real estate
- Notable Investments: AMD, GlobalFoundries, Cepsa
- Tiger Global Management
- Details: Tiger Global Management is a U.S.-based investment firm known for its investments in technology and internet companies. It has been a significant investor in Getir, participating in several funding rounds.
- Investment Focus Areas: Technology, internet, software companies
- Notable Investments: Facebook, LinkedIn, Spotify
- Sequoia Capital
- Details: Sequoia Capital is a venture capital firm based in the U.S. that has funded some of the most successful technology companies in the world. It has invested in Getir to support its growth and expansion.
- Investment Focus Areas: Technology, healthcare, consumer, financial services
- Notable Investments: Apple, Google, Airbnb
- Base Partners
- Details: Base Partners is a venture capital firm that focuses on investing in high-growth technology companies. It has been involved in Getir's funding rounds to help the company scale its operations.
- Investment Focus Areas: Technology, e-commerce, fintech
- Notable Investments: Not publicly disclosed
- Crankstart Foundation
- Details: Crankstart Foundation is a philanthropic organization that also engages in venture capital investments. It has supported Getir in its mission to revolutionize the grocery delivery market.
- Investment Focus Areas: Technology, education, social impact
- Notable Investments: Not publicly disclosed
What's Next for Getir?
Getir is poised to capitalize on the booming demand for quick delivery services, with plans to expand into major cities like Paris, Berlin, and several U.S. locations. This expansion represents a significant opportunity, driven by the increased consumer preference for rapid delivery, especially during the COVID-19 pandemic.
Future fundraising prospects look promising, as the quick delivery sector continues to attract substantial investor interest. With competitors like Gorillas seeking up to $1 billion in funding, Getir is well-positioned to secure additional investments to fuel its growth and market penetration.
However, challenges such as intense competition from other quick delivery companies and potential labor disputes could pose hurdles. Maintaining service quality and operational efficiency while scaling rapidly will be crucial for Getir's sustained success.
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