The proposed new funding round values Getir at $11.8 billion.

After bagging a $250 million check from lead investor Mubadala Investment Co., Turkish speedy-delivery startup Getir is eyeing a total haul of about $800 million as investors including Rick Gerson’s firm Alpha Wave Global (previously known as Falcon Edge Capital), Abu Dhabi’s state holding company ADQ, Sequoia and Tiger Global pile in with funds. (Bloomberg)

Though the details of the proposed funding have not yet been officially announced, people in the know claim the startup is being valued at $11.8 billion.

Getir: Speedy growth, too

A projection by Getir, reviewed by Bloomberg, claims the startup’s transaction value is likely to zoom to $73 billion by 2025 from $2.4 billion at end-2021. However, lusty growth estimates by food and grocery delivery companies have lately been cold-shouldered by investors, as evidenced by the plunging share prices of some of the listed players in the space.

Getir was launched in 2015 by CEO Nazim Salur.

Sanctions on Russian oligarchs

A report late last week said Getir had links to Russian VC firm Winter Capital , which is said to be connected to oligarch Vladimir Potanin, one of Russia’s richest men having an estimated fortune of $22 billion.

Winter Capital holds 0.45% after participating in the startup’s Series D round conducted in June last year.

“If any sanctions are imposed involving Winter Capital we will do the necessary adjustments,” said a company spokesman. “In the meanwhile our legal teams are evaluating the matter and we will act in the appropriate manner.”

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