Embattled grocery startup Getir exits the U.S. and Europe, will refocus on Turkey [from CNBC]

Embattled grocery startup Getir exits the U.S. and Europe, will refocus on Turkey [from CNBC]

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Grocery delivery startup Getir announced on Monday that it is quitting international markets including the U.K., Germany, the Netherlands and the U.S., marking a major setback for the once hyped online grocery industry.

The Istanbul, Turkey-based firm said in a statement that it was withdrawing from its U.S. and European markets and would now refocus its financial resources on Turkey.

The company said it raised a new investment round led by Abu Dhabi sovereign wealth fund Mubadala and venture capital firm G Squared “to bolster its competitive position in its core food and grocery delivery businesses in Turkey.”

Read more: Embattled grocery startup Getir exits the U.S. and Europe, will refocus on Turkey