Saudi Delivery Startup Ninja Achieves Unicorn Status After $250M Raise

Saudi quick-commerce platform Ninja has secured $250 million in a funding round led by Riyad Capital, boosting its valuation to $1.5 billion and earning it unicorn status. Founded in 2022, Ninja operates across Saudi Arabia, Bahrain, Kuwait, and Qatar, offering rapid delivery of groceries, pet supplies, and household essentials. The company is preparing for a public listing on the Riyadh stock exchange by 2027, joining other Gulf tech firms like Tabby and Tamara planning IPOs. This funding milestone highlights Saudi Arabia's growing venture capital ecosystem and aligns with the nation's Vision 2030 economic diversification goals. Despite a global slowdown in startup funding, Saudi Arabia saw nearly $400 million invested in startups during Q1 2025. Riyad Capital’s leadership in this round underscores its role as a key institutional backer in the MENA startup scene.