Rapid delivery start-up Getir is looking to raise $800 million in its latest funding round, according to sources reported by Bloomberg.

The news comes as the rapid delivery sector continues to receive significant investment.

In January, fellow rapid delivery firm Zapp raised $200 million in a Series B funding round.

The round would give Getir, which was launched in 2015 by Nazım Salur, a valuation of about $11.8 billion according to Bloomberg’s sources.

The round was led by Mubadala Investment Co, who were joined by Alpha Wave Global, Abu Dhabi’s state holding company ADQ, Sequoia, and Tiger Global.

The news comes after a period of rapid growth for the company.

In February 2022, the firm pledged to create 6,000 new jobs this year.

The delivery business, which unlike Deliveroo or Uber Eats employees its drivers, said that it plans to invest £100 million into the UK.

The quick commerce channel – which delivers food and groceries to consumers in less than one hour and often sub-30 minutes – is predicted to grow to £3.3 billion in the UK alone.

The research, released in June by analyst house IGD, found the market is currently worth £1.4 billion.

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