What is Nana?
Nana operates as a leading on-demand delivery platform for online grocery shopping within Saudi Arabia, with a mission to dominate the MENA market. Launched in Riyadh, the company facilitates convenient grocery purchases through its user-friendly interface, delivering directly to consumers' doors. Nana has established extensive partnerships with major hypermarkets and numerous specialty stores across the Kingdom, creating a comprehensive ecosystem that serves consumers, retailers, delivery personnel, and CPG companies. Its operational model is designed for efficiency and scalability in the rapidly evolving e-commerce landscape.
How much funding has Nana raised?
Nana has raised a total of $157.6M across 3 funding rounds:
Series A
$6.6M
Series B
$18M
Series C
$133M
Series A (2019): $6.6M with participation from Watar Partners, Impact 46, Middle East Venture Partners, Wamda, and Saudi Venture Capital
Series B (2020): $18M led by Saudi Technology Ventures, Saudi Venture Capital Company, Impact 46, Middle East Partners, Wamda, and Watar Partners
Series C (2023): $133M supported by Red Diamond, Sultan International Holding, and Kingdom Holding
Key Investors in Nana
Red Diamond
Red Diamond, a long-standing coffee and tea manufacturer and distributor founded in 1906, participated in Nana's Series C funding round.
Sultan International Holding
Sultan International Holding (SIH), a diversified Abu Dhabi-based holding company with extensive experience in business advisory and investment capital across various sectors, provided backing to Nana.
Kingdom Holding
Kingdom Holding Company, a globally renowned diversified investment firm based in Riyadh, known for its extensive portfolio in technology, finance, and hospitality, was a key investor in Nana's latest funding round.
What's next for Nana?
The substantial enterprise-level funding Nana has garnered, particularly the recent major strategic investment, positions the company for accelerated expansion and market consolidation. This capital infusion is expected to fuel further technological advancements, enhance logistical capabilities, and broaden its service offerings across the MENA region. Nana's strategic focus will likely involve deepening its market penetration in existing cities and potentially entering new territories, solidifying its leadership in the competitive e-grocery sector. The company's trajectory suggests a continued emphasis on operational excellence and customer experience to maintain its growth momentum.
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