MENA e-commerce giant Noon has raised a significant $500 million in a new funding round. The investment is reportedly backed by Saudi Arabia’s Public Investment Fund (PIF) as the company strengthens its position and moves towards a potential Initial Public Offering (IPO).
This fresh injection of capital comes at a critical time for Noon, as it navigates an increasingly competitive e-commerce landscape in the Gulf, with both local and international players vying for market share.
Gearing Up for Public Markets
The funding aligns with Noon’s publicly stated ambitions for a stock market listing. In a September 2025 interview, founder and chairman Mohamed Alabbar indicated that a listing was possible within the next 24 months. The company is reportedly planning a dual listing on exchanges in both Saudi Arabia and the United Arab Emirates, reflecting its deep roots and significant operations in both key markets.
Founded in 2016 by Mohamed Alabbar with backing from the PIF, Noon was established to create a formidable regional competitor in the online retail space. This latest funding round further solidifies its war chest as it prepares for its next phase of growth.
Innovating Delivery with Autonomous Robots
In a parallel strategic move, Noon is pushing the boundaries of last-mile delivery by introducing autonomous technology. The company recently announced a partnership with Yango Group to deploy and scale autonomous robot delivery services across the region.
The initiative is launching with deliveries for customers of its rapid grocery service, noon Minutes, starting with the Sobha Hartland community in Dubai. Residents in the area can now opt for robot delivery directly through the app at checkout, track the robot’s journey in real-time, and unlock its secure compartment with their smartphone upon arrival. Following this initial deployment, Noon plans to gather feedback and scale the service across the UAE and the wider GCC.
About Noon
Noon is a leading e-commerce platform and digital ecosystem in the Middle East, offering a wide range of products including electronics, fashion, home goods, and groceries. Launched in 2016, it has become a major player in the online retail markets of the UAE, Saudi Arabia, and Egypt. The platform also operates services like the quick-commerce platform noon Minutes and the food delivery service noon Food.
Source: Waya
