Funding round
noon Growth
Reported as "Growth Equity"
noon, which works in online retail and distribution in United Arab Emirates, raised $2.00B in a Growth round announced on 4 Oct 2021, led by Public Investment Fund and Mohamed Alabbar. 2 firms took part.
$2.00B
Amount raised
Not disclosed
Post-money valuation
2
Investors
2 leads
Valuation
What this round says about the price
noon did not disclose a valuation in this round. It is noon's first venture round on record, 9 years after it was founded in 2012. No later venture round is on record for noon.
noon's funding rounds
This is the only venture round on record for noon.
- Growth this round 4 Oct 2021, led by Public Investment Fund and Mohamed Alabbar $2.00B
Investors
Who put money in
Public Investment Fund and Mohamed Alabbar led the round.
Lead investors
- backs 5 venture-backed companies new investor
- Mohamed Alabbar new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
7 Growth rounds in Online Marketplace within a year either side disclosed an amount; the median was $100M, and this round was 20 times the median. The closest in time, other companies' Growth rounds in Online Marketplace:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Online Marketplace | 16 Sep 2021 | $100M | $1.10B | STIC Investments |
| Flipkart Online Marketplace | 12 Jul 2021 | $3.60B | $37.60B | not named |
| Online Marketplace | 8 Feb 2022 | $8.8M | not disclosed | not named |
| Online Marketplace | 24 Mar 2022 | $5.0M | not disclosed | not named |
| Online Marketplace | 19 Feb 2021 | $276M | not disclosed | PS Alliance |
| Online Marketplace | 24 Feb 2021 | $191M | $840M | Korelya Capital |
| Online Marketplace | 16 Feb 2021 | $40M | not disclosed | The Chernin Group |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did noon raise in its Growth round?
noon raised $2.00B in its Growth round, announced in Oct 2021.
Who led noon's Growth round?
Public Investment Fund and Mohamed Alabbar led it.
What was noon's valuation at the Growth round?
It was not disclosed.
How does it compare with other Growth rounds in Online Marketplace?
7 Growth rounds in Online Marketplace within a year either side disclosed an amount; the median was $100M, and this round was 20 times the median.