Nana raises $133 million in a Series C round led by Kingdom Holding
- Saudi Arabia-based dark store grocery delivery startup Nana, has raised $133 million in a Series C funding round led by Kingdom Holding and Uni Ventures, with participation from Sultan Holding, Al-Jasser Holding, Red Diamond Co, Dallah Al-Baraka Group, AlJammaz Holding, and several other investors.
- Founded in 2016 by Abdulmajeed Alsukhan and Sami Alhelwah, Nana is a digital grocery shopping platform in Saudi Arabia that is dedicated to fulfilling daily, weekly, and monthly household grocery needs.
- The newly acquired funds will support Nana’s expansion plans and add more diversified services.
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 (KHC) 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.
Mr. Sami Alhelwah, CEO of Nana, has celebrated this monumental milestone upon completion of this investment round: “We are extremely delighted with the success of this investment round which has been led by The Kingdom Holding Company (KHC) and Uni-Ventures. This milestone will serve as a motivator for us to strengthen Nana’s position as the leading company within the region, as the success of this round 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: “Our aim through this investment is to support (Nana) lead the e-commerce sector in the Kingdom of Saudi Arabia and the Region, as part of KHC’s pursue towards investing in emerging and promising Saudi startups while strengthening its local investments portfolio. We also remain committed to diversifying our investment portfolio, while considering investments that have 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 considered the most promising company within the sector considering the modern technologies that it possesses, and considerable expansion plans set in place, 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 that are 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 are 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, whereby orders are delivered to customers within 15 minutes. Nana also seeks to increase it’s market share in the region which has an estimated market size of $165 billion.