(Image source: TechCrunch)
NinjaVan, the Singapore-based logistics startup has secured $578 million in the latest Series E round of funding. Top investors include Alibaba Group, DPDgroup’s GeoPost, B Capital Group, Monk’s Hill Ventures and Zamrud.
Ninja Van was founded in 2014 by CEO Lai Chang Wen, CTO Shaun Chong and CPO Boxian Tan. The company currently has 61,000 employees and it is operating across South-East Asia: Singapore, Malaysia, Indonesia, Thailand, Vietnam and the Philippines.
In the previous funding round in April 2020, Ninja Van was valued at $750 million and closed on $279 million. The current value of the logistics company is over $1 billion prior to a potential public offering early next year.
The new flush of funding will be assigned to support its operation infrastructure and technology systems; optimizing micro supply chain in South-East Asia:
“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. 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.” said Mr. Kenny Ho, head of Investment for Southeast Asia, Alibaba Group.