SINGAPORE: Logistics provider Ninja Van has added Alibaba Group as a new investor after raising US$578 million in a late stage funding round, the Singapore-based firm said on Sunday .
The funds will be allocated towards infrastructure and technology systems that"will support a sustainable long-term cost structure", said Ninja Van, launched in 2014, in a statement. “We remain committed to the success of all our business partners as we move towards the next stages of sustainable growth and continued innovation. The support from our investors will enable us to continue to build upon the business momentum we have achieved,” he added.Ninja Van's logistics network spans Singapore, Malaysia, Indonesia, Thailand, Vietnam, and the Philippines.
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