Ninja closes pre-seed round

Saudi Arabia-based quick commerce grocery delivery start-up Ninja has completed a pre-seed round led by Bunat Ventures, as investment in q-commerce in the Mena region companies is soaring.

Founded by Saud Al Qahtani and Canberk Donmez, Ninja is a quick-commerce (q-commerce) offering the delivery of groceries and other products in under 25 minutes from its network of “dark stores”. Besides grocery, the startup’s product category also includes beauty and skincare items and pet food and supplements.  

Established four months ago by Saud Al Qahtani and Canberk Donmez, Ninja, the start-up is now operating in Jeddah, Riyadh and the Eastern Province of the country.

Co-founders and managing partners of Bunat Ventures, Khaled Zainalabedin and Khalid Saad, said: “As a venture builder, we look for and support teams who are passionate about technology and empowering change in Saudi Arabia. 

“Our objective is to invest and setup value adds startups that would become leading players within Saudi Arabia and be positive contributors to Vision 2030. We are proud of the progress of Ninja’s team, both on the development of the technology, building the dark stores in record time, deployment of the teams and becoming live in three major regions of the Kingdom.” 

App users can purchase a variety of ranging from fresh produce to skincare, beauty and pet food. 

Co-founder and chief investment officer of Bunat Ventures, Chadi Hajjar, said: “The innovation ecosystem of our region and Saudi specifically is healthily growing, we keep striving to be the first in of best-led startups, building from ideation to going live is exciting, especially when the team is getting things done for a reason, leading for impacting.”

According to Ken Research, Saudi quick commerce market is expected to reach around 4 billion in orders annually by 2026, owing to the emergence of new players, increased adoptation of remote work, all-encompassing digitisation and government initiatives.