NINJA LEAPS OUT OF STEALTH WITH A MEGA SEED ROUND AND A CLEAR PATH TO SUSTAINABILITY

Ninja, a ‘quick commerce’ grocery delivery company and one of Saudi Arabia’s fast-growing technology companies, has today announced that it has crossed 1.5 million app downloads in the Kingdom. It has also announced that in line with its ambitious expansion plans, the company in just four months has grown to become fully operational across Riyadh, Jeddah, and the Eastern Province of the Kingdom.The news underlines Saudi Arabia’s position as the fastest growing regional market for VC activity, accounting for 35% of the total funding deals done in the MENA region in 2022.

Ninja has also announced that it has recorded impressive demand in its mega seed funding round closed in Q4 2022. The undisclosed amount was led by Bunat Ventures and multiple other VCs and family offices. The company’s founders said that the latest funding round would help them continue to scale their business and operations across the Middle East and North Africa.

The KSA homegrown start-up, which was founded in 2022 by a couple of industry veterans, has also announced that it has expanded its operations this month to fully cover Saudi Ara