TLDR: Saudi Arabia’s quick-commerce startup, Ninja, has officially joined the ranks of technology unicorns after securing a significant $250 million funding round led by Riyad Capital, pushing its valuation to $1.5 billion. Founded in 2022, Ninja specializes in delivering groceries and daily essentials across the GCC region, marking a pivotal moment for the Kingdom’s burgeoning tech sector and its Vision 2030 economic diversification goals.
Riyadh, Saudi Arabia – July 5, 2025 – The Saudi Arabian technology landscape celebrates a new milestone today with the announcement that quick-commerce pioneer, Ninja, has achieved unicorn status, reaching a valuation of $1.5 billion. This significant achievement follows a successful $250 million funding round spearheaded by Riyad Capital, underscoring the robust growth and investor confidence in the Kingdom’s digital economy.
Founded in 2022 by entrepreneurs Saud Al Qahtani and Canberk Donmez, Ninja has rapidly established itself as a dominant force in the quick-commerce sector. The company specializes in the rapid delivery of groceries and daily essentials, serving a growing customer base across Saudi Arabia, Bahrain, Qatar, and Kuwait. Its success reflects the increasing regional demand for efficient, technology-enabled consumer services.
The substantial capital injection is earmarked for strategic expansion and operational enhancement. Ninja plans to significantly scale its logistics capabilities, broaden its geographical footprint into new markets, and lay the groundwork for a highly anticipated public listing on the Saudi Exchange by 2027. This move aligns with the broader national agenda to foster a dynamic and diversified economy, as outlined in Saudi Vision 2030.
Ninja’s emergence as a unicorn further solidifies Saudi Arabia’s position as a burgeoning hub for innovation and entrepreneurship in the Middle East. The Kingdom has seen a consistent upward trend in venture funding, defying global slowdowns, with startups raising approximately $400 million in Q1 2025 alone. This momentum is also evident in the prior successes of other high-profile Saudi unicorns, including fintech giants Tabby and Tamara. The Public Investment Fund (PIF) continues to play a crucial role in this ecosystem, with multi-billion dollar commitments to artificial intelligence and digital infrastructure, including the recent launch of HUMAIN, an AI-focused company aimed at developing next-generation AI solutions.
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The rapid ascent of companies like Ninja highlights the Kingdom’s strategic investments in technology and entrepreneurship, demonstrating a clear path towards economic diversification beyond traditional oil revenues. The company’s journey from its inception to a billion-dollar valuation in just three years exemplifies the vibrant and supportive environment for startups in Saudi Arabia.
