Ninja Van, a Singapore-based logistics startup has raised $578 million in Series E funding to help expand its operations and improve its technology systems.
China's Alibaba Group is one of the investors, as well as other existing investors DPDgroups GeoPost and Eduardo Saverings, Facebook co-founder Eduardo Saverings, Monks Hill Ventures and Zamrud. This statement refers to a sovereign wealth fund that Brunei controls.
According to media reports, the latest round was valued at more than $1billion.
Ninja Van plans to use the proceeds to improve its operations, including micro supply chains solutions to maximize e-commerce opportunities throughout Southeast Asia.
This round follows the $279 million Series D round, which was valued at approximately $750 million in May 2020.
Ninja Van claims that it delivers around 2 million parcels per day with over 1.5 million active shippers, and approximately 100 million recipients.
The company was founded in 2014. It operates its business in Singapore, Malaysia and Indonesia as well as Thailand, Vietnam, Thailand, Vietnam and the Philippines. The company currently has more than 61,000 employees.
We believe strongly in the potential for ecommerce in Southeast Asia. In particular, we believe in the power of technology-enabled logistic to drive ecommerce growth. We are confident that Ninja Van's extensive presence in the region and local knowledge will allow us to better serve the participants in the ecommerce ecosystem.
