Saudi Arabia-based online grocery platform Nana Direct is all geared up to hit the next level of growth after securing $6.6 million in a Series A funding co-led by the Middle East Venture Partners (MEVP) and Impact46.
Other contributors to have participated in the round include Saudi Venture Capital (SVC), Watar Partners, and Wamda Capital.
Nana is one of the first-of-its-kind home-delivery platforms that offers an easy and convenient way for users to stock their weekly and monthly grocery requirements. Powered by a sophisticated technology suite, the company’s mobile-only platform aims to transform and revolutionize the traditional supermarket experience.
“Having built several enterprise products in the past, I wanted to tackle a core consumer challenge and was curious to build technologies to resolve it, noted Sami Alhelwah, founder and CEO of Nana Direct.
He added: “Groceries form a significant fraction of a Saudi family’s monthly expenditure and I believed the experience they get in return could be enhanced manifold. All around MENA more and more offline retail verticals from electronics to food were moving online, and this is what led me to Nana, a supermarket in your mobile phone.”
The phenomenal success of the startup can be comprehended from the fact that its turnover grew 300% in 2018. And if things proceed at the current pace, it is highly likely that Nana will easily outshine last year’s performance in 2019.
Meanwhile, Nana’s Series A round also marked the first-ever time when MEVP and Impact46 joined forces in a strategic investment partnership.
