Saudi billionaire Prince Alwaleed Bin Talal’s investment firm Kingdom Holdings led a $133 million funding round for grocery delivery platform in one of the largest investment rounds seen among Saudi start-ups.
Uni Ventures, a subsidiary of Orascom Investments, co-lead the series C funding round for Nana alongside participation from Sultan Holding, Al-Jasser Holding, Red Diamond Co., Dallah Al-Baraka Group, AlJammaz Holding and several other investors, according to a statement on Tuesday.
Nana's CEO Sami Alhelwah said the success of "this round heavily supports our expansion plans and continuity towards the provision of more diversified services that serve all stakeholders.”
Nana also seeks to increase its market share in the region which is estimated at $165 billion.
(Reporting by Brinda Darasha; editing by Seban Scaria)