Ninja Van, a Singapore-based logistics startup, has bagged a $578 million Series E round with the participation of Alibaba Group. Other investors include Geopost/DPDgroup, B Capital Group, Monk’s Hill Ventures, and Zamrud, an entity linked to a Southeast Asian sovereign wealth fund.
|Ninja Van has secured $578 million in a Series E funding round backed by Alibaba |
The funds from this round of investment 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. Funds will also be invested in Ninja Van’s 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 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 Lai Chang Wen, co-founder and CEO of Ninja Van Group.
On the same note, Kenny Ho, head of Investment for Southeast Asia at Alibaba Group said, "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.”
Since its inception in 2014, Ninja Van has established an end-to-end logistics network spanning Singapore, Malaysia, Indonesia, Thailand, Vietnam, and the Philippines, connecting over 1.5 million active shippers with close to 100 million recipients. The company currently employs more than 61,000 staff and delivery personnel that support the delivery of around 2 million parcels a day throughout the region.
According to a media report, the newest round topped a valuation of over $1 billion, paving the way for an initial public offering (IPO) as early as next year. This round follows its $279 million Series D round in May 2020, which valued the company at over $750 million.