Singapore-based logistics tech firm Ninja Van today announced that it has raised a US$578 million Series E funding round from existing investors Geopost/DPDgroup, B Capital Group, Monk’s Hill Ventures, and Zamrud, an entity linked to a Southeast Asian sovereign wealth fund.
The funding round also included the participation of new investor Alibaba Group which has previously invested in leading Southeast Asian e-commerce firms such as Lazada and Tokopedia.
It followed a US$274 million in Series D funding round that the company announced in May 2020.
In a press statement, Ninja Van said that the funding “will be allocated towards infrastructure and technology systems that will support a sustainable long-term cost structure, as well as the quality and consistency of Ninja Van’s operations.”
The company will also invest in its suite of micro-supply chain solutions to help Southeast Asian businesses optimise e-commerce opportunities.
“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 SEA 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 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.”
Founded in 2014, Ninja Van has a presence in major SEA markets such as Singapore, Malaysia, Indonesia, Thailand, Vietnam, and the Philippines.
The company said that it currently employs more than 61,000 staff and delivery personnels that support the delivery of around two million parcels a day throughout the region.
Image Credit: Ninja Van
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