RIYADH: Riyadh-based Nana, the grocery shopping and delivery platform, has raised SR188 million ($50 million) in a funding round led by FIM Partners and STV – bringing its total funding to SR300 million to date.

The announcement was made on the sidelines of the LEAP 2022 conference held in Riyadh, jawlah reported.

With an aim of elevating the e-grocery industry, the acquired fund will help Nana to expand its services in Saudi Arabia by increasing its cloud catering stores to more than 150 during 2022, to cover all major cities.

Nana store includes a wide selection of over 40,000 items, aimed to supply families with their weekly and monthly needs to their doorsteps within 15 minutes.

“We exist to empower every household with a convenient solution that seeks to fulfil their daily, weekly, or monthly grocery needs and have been on this mission ever since we launched Nana back in 2016,” CEO, Sami Alhelwah, said in a statement.

“Our expansion has resulted in rapid double-digit growth week over week, and the current fundraise will sustain this growth for a considerable time,” he added.

Copyright: Arab News © 2022 All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.