Middle East Venture Partners and Impact46 co-led a significant investment in the Saudi online grocery platform Nana Direct, aiming to innovate the grocery shopping experience across the Kingdom.
Information on the Target
Nana Direct is an innovative online grocery platform based in Saudi Arabia that operates in 13 cities across the Kingdom. The company has developed a comprehensive technology suite that effectively integrates grocery customers, in-store pickers, supermarkets, and last-mile delivery services. With a mobile-only approach, Nana is transforming traditional supermarket shopping, rapidly increasing its market presence, and gaining significant traction in the region.
As a home-grown startup, Nana Direct emphasizes its commitment to delivering a superior grocery shopping experience through technologies developed entirely in-house. This autonomy allows the company to respond swiftly and effectively to the needs of its partner stores and supermarkets. The platform experienced a remarkable 3X growth in turnover over the past year, with even more ambitious targets set for 2019.
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Industry Overview in Saudi Arabia
The retail industry in Saudi Arabia has been undergoing a significant transformation, driven by changing consumer behaviors and the rapid adoption of digital technologies. With a large segment of the population increasingly embracing e-comm
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Middle East Venture Partners and Impact46
invested in
Nana Direct
in 2019
in a Series A deal