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

Ninja VanSINGAPORE: 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.

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.

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