Launch Instant delivery Getir announced that it has completed the next Series E will invest 768 million. Following this transaction, the company’s valuation increased to $11.8 billion.
Mubadala Investment Company is the leader in the first round, which also includes the Abu Dhabi Growth Fund (ADG), Alpha Wave Global, Sequoia Capital and Tiger Global.
Originally from Turkey, Getir has expanded its services to Europe and America. Once you submit your order, Getir will start working on it.
Behind the scenes, Getir built a dense network of micro-fulfillment centers in dozens of metropolitan areas. These dark Getir shops are managed and the company also owns and manages an inventory of products.
After that, delivery people on a bike or moped will place your order as soon as possible. This means you can expect to place an order within “minutes”, as the company’s website says. More realistically, you should get it in 20 to 40 minutes.
The company has managed to attract 40 million app downloads across nine countries. Getir operates 1,100 dark shops in total. That’s why these instant delivery startups have raised massive funding. These are capital intensive industries.
Getir has a strong hold in Turkey as it currently operates in 81 different cities. The company covers 48 different cities for all other markets: UK, Germany, France, Italy, Spain, Netherlands, Portugal and USA
“We are defining the ultra-fast shipping industry and this latest round of funding is a testament to Getir’s position as an industry leader. In such an interesting and competitive market, we cannot stand still. This investment allows us to further develop our offering and technology, while at the same time investing in attracting the best talent from our workforce,” said Getir founder Nazim Salur in a statement.
The company competes with Gopuff, Flinck, Gorilla, Zap, Cashew and others. In other words, this is an incredibly busy market and there will be more consolidation moving in the future.