Grocery startup Getir to exit US, Europe and UK, refocus on Turkey [Video]

Companies such as Getir and Gorillas promise to deliver items to shoppers’ doors in as little as 10 minutes.

Angel Garcia | Bloomberg via Getty Images

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.”

Getir said it generates 7% of its revenues from the U.K., Germany, the Netherlands and the U.S.

“Getir expresses its sincere appreciation for the dedication and hard work of all its employees in …