Ninja, the fast-commerce company, has become the latest Saudi unicorn after raising $250 million in a pre-IPO funding round led by Riyadh Capital, with participation from leading regional investors. The company’s valuation soared to $1.5 billion, just three years after its founding.

Founded in 2022, Ninja provides ultra-fast delivery of groceries and essentials through a tech-enabled network spanning four GCC countries.

This milestone reflects the growing maturity and strength of Saudi Arabia’s investment and entrepreneurial ecosystem. Notably, Ninja’s success was bolstered by its inclusion in the Saudi Unicorns Program — a product under the National Technology Development Program (NTDP), with the support of the Ministry of Communications and Information Technology (MCIT) and Misk Foundation. This product is designed to accelerate the growth of high-potential companies and position them as global market leaders.

Ninja’s rise not only underscores the effectiveness of Saudi Arabia’s innovation-focused policies but also signals tangible progress toward the ambitious goals of Vision 2030 — fostering a diversified economy powered by technology, entrepreneurship, and private sector growth.