Ninja Van, a Singapore-based logistics startup, has closed a $578 million Series E spherical to assist its operations infrastructure and know-how methods progress.
Investors embody China’s Alibaba Group in addition to current buyers DPDgroup’s GeoPost, Facebook co-founder Eduardo Savering’s B Capital Group, Monk’s Hill Ventures, and Zamrud, a sovereign wealth fund managed by Brunei, primarily based on its assertion.
The newest spherical topped at a valuation of greater than $1 billion previous to a possible preliminary public providing as early as subsequent 12 months, in response to media stories.
Ninja Van will use the proceeds to strengthen its operations together with micro provide chain options to optimize e-commerce alternatives in Southeast Asia.
This spherical comes after its $279 million Series D spherical at about $750 million of valuation in May 2020.
Ninja Van claims it delivers roughly 2 million parcels a day, with greater than 1.5 million lively shippers and round 100 million recipients.
Founded in 2014, the corporate operates its enterprise throughout Singapore, Malaysia, Indonesia, Thailand, Vietnam, and the Philippines. It presently employs greater than 61,000 workers.
“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.” mentioned Mr. Kenny Ho, Head of Investment for Southeast Asia, Alibaba Group.
