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saudi startup ninja seeks over 1 billion valuation in funding round

Ninja, a Saudi quick commerce startup founded by Ebrahim Al-Jassim, is in discussions to raise funds at a valuation exceeding $1 billion, with the round potentially closing this month, led by Riyad Capital. Launched in 2022, Ninja has become the largest grocery delivery service in Saudi Arabia and has expanded to Bahrain, Qatar, and Kuwait, recently adding food delivery to its offerings. The company aims for a public listing by 2027 after raising $30 million in a seed round last December at a valuation of $180–200 million.

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