Singapore's Ninja Van raises US$578 million in funding round, adds Alibaba as investor

Singapore's Ninja Van raises US$578 million in funding round, adds Alibaba as investor

26/9/2021 9:54:00 AM

Singapore's Ninja Van raises US$578 million in funding round, adds Alibaba as investor

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 (Sep 26). Existing investors in the Series E funding round include existing investors Geopost/DPDgroup, B Capital Group, Monk

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 (Sep 26).Existing investors in the Series E funding round include existing investors Geopost/DPDgroup, B Capital Group, Monk’s Hill Ventures, and Zamrud, an entity linked to a Southeast Asian sovereign wealth fund.

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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.“The quality of investors joining us in this round of investment is a clear signal that the market recognises the emerging opportunities for e-commerce logistics in Southeast Asia and how as an entrenched player in the region, Ninja Van is positioned to take a central role in meeting the shifting demands of both businesses and consumers,” said Mr Lai Chang Wen, co-founder and CEO of Ninja Van Group.

“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. headtopics.com

Related:Grab invests in Ninja Van, announces regional partnershipNinja Van's logistics network spans Singapore, Malaysia, Indonesia, Thailand, Vietnam, and the Philippines.The company currently employs more than 61,000 staff and delivery personnel and delivers around 2 million parcels a day throughout the region.

“We strongly believe in the potential of e-commerce in Southeast Asia, in particular the power of technology-enabled logistics to fuel e-commerce growth," said Mr Kenny Ho, head of investment for Southeast Asia, Alibaba Group."With Ninja Van’s vast presence and extensive local insights in the region, we are confident that our partnership with Ninja Van would enable us to better serve participants in the e-commerce ecosystem across the region,” he added.

Read more: CNA »

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