Deals

Rapid Delivery Startup Getir Nears New Funding at $11.8 Billion Valuation

Grocery-delivery startup set to raise about $800 million
Projected profit exceeds those of rivals including DoorDash

Couriers for the food delivery service Getir in Barcelona, Spain. — Couriers for the food delivery service Getir in Barcelona, Spain.
Photographer: Angel Garcia/Bloomberg

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By Gillian Tan, Nicolas Parasie, and Ben Bartenstein

March 11, 2022 at 7:41 PM UTC

Corrected

March 12, 2022 at 7:32 PM UTC

This article is for subscribers only.

Turkish grocery-delivery startup Getir is nearing a deal to raise roughly $800 million in a funding round featuring a $250 million check from lead investor Mubadala Investment Co. that values the company at about $11.8 billion, according to people with knowledge of the matter.

Rick Gerson’s firm Alpha Wave Global, previously known as Falcon Edge Capital, is set to join existing investors including Mubadala; Abu Dhabi’s state holding company ADQ; Sequoia and Tiger Global in the new round, said some of the people, requesting anonymity because the talks are private.