UAE - Mubasher: Mubadala Investment Co. will lead the funding round of Getir, a Turkey-based grocery delivery startup, with a $250 million check, sources told Bloomberg.

Sources referred that the Turkish startup is arranging a deal to secure around $800 million in the funding round that values the company at about $11.8 billion.

Alpha Wave Global, previously known as Falcon Edge Capital, will contribute to the round, alongside other investors including Abu Dhabi-based ADQ, Sequoia, and Tiger Global.

Established in 2015 and led by the CEO Nazim Salu, Getir is expected to record transactions worth $73 billion by 2025, compared to about $2.4 billion at the end of 2021.