Total amount raised
$1.8 Billions
Latest funding date
Location
Getir has successfully raised significant funding through multiple rounds, including a Series E round. The company has attracted a diverse group of investors, including Flat Capital and BBQ Capital.
Keep reading to explore the intricacies of Getir's fundraising journey and the investors backing this innovative platform.
What Is Getir?
Getir, founded in July 2015, is a technology company based in Istanbul, Turkey. The company specializes in on-demand delivery services for groceries, combining urban logistics and mobile technology to provide instant delivery of goods in urban areas.
The founders of Getir include Nazim Salur, Serkan Borancili, Tuncay Tutek, Dogan Dalyan, and Mert Salur. The application enables users to order a range of products and pay for them through their credit cards, with live tracking of their orders.
Getir has grown significantly since its inception and now employs between 1001 and 5000 people. The company's innovative approach to grocery delivery has made it a prominent player in the industry.
How Much Funding Has Getir Raised?
- Series A
- Amount Raised: $38M
- Date: January 2020
- Lead Investors: Michael Moritz
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand its delivery network and improve technology infrastructure.
- Series B
- Amount Raised: $128M
- Date: January 2021
- Lead Investors: Base Partners, Crankstart Foundation
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enter new markets.
- Series C
- Amount Raised: $300M
- 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 enhance service offerings.
- Series D
- Amount Raised: $555M
- Date: June 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: $7.5 billion
- Motivation Behind the Round: To launch operations in Paris, Berlin, and several U.S. cities.
- Series E
- Amount Raised: $768M
- Date: March 2022
- Lead Investors: Mubadala, Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand its global footprint and invest in technology.
Total Amount Raised: $1.789 billion. Current Valuation: $7.5 billion.
Key Investors
- Tiger Global Management
- Details: Tiger Global Management is a global investment firm that focuses on private and public companies. It has a strong presence in the internet, software, consumer, and financial technology sectors.
- Investment Focus Areas: Internet, software, consumer, financial technology.
- Notable Investments: Facebook, LinkedIn, Spotify.
- Sequoia Capital
- Details: Sequoia Capital is a venture capital firm that invests in seed stage, early stage, and growth stage companies. It has a diverse portfolio across technology, healthcare, and consumer services.
- Investment Focus Areas: Technology, healthcare, consumer services.
- Notable Investments: Apple, Google, PayPal.
- Silver Lake
- Details: Silver Lake is a global private equity firm focused on investments in technology and technology-enabled industries. It manages over $88 billion in combined assets.
- Investment Focus Areas: Technology, technology-enabled industries.
- Notable Investments: Dell Technologies, Airbnb, Twitter.
- DisruptAD
- Details: DisruptAD is the venture platform of ADQ, one of the region’s largest holding companies. It focuses on investing in innovative and disruptive technologies.
- Investment Focus Areas: Innovative technologies, disruptive technologies.
- Notable Investments: Various innovative technology companies (specific examples not provided).
- Mubadala Investment Company
- Details: Mubadala Investment Company is an Abu Dhabi-based sovereign wealth fund. It invests in a wide range of sectors including aerospace, ICT, semiconductors, metals & mining, renewable energy, and utilities.
- Investment Focus Areas: Aerospace, ICT, semiconductors, metals & mining, renewable energy, utilities.
- Notable Investments: AMD, GlobalFoundries, Emirates Global Aluminium.
What's Next for Getir?
Getir's future looks promising as it eyes expansion into major cities like Paris, Berlin, and several U.S. locations. The rapid growth of the quick delivery sector, fueled by the pandemic, presents a significant opportunity for Getir to capture a larger market share. With a valuation of $7.5 billion and substantial funding, the company is well-positioned to leverage this demand.
Future fundraising seems likely as Getir continues to scale its operations and enhance its technology. However, the company will face challenges such as intense competition from other quick delivery startups and potential labor disputes. Maintaining service quality while expanding rapidly will be crucial for sustained success.
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