Singapore’s tech logistics startup Ninja Van has recently raised USD 274 million in a Series D funding round amidst an upswing in e-commerce due to COVID-19, bringing its total capital raised to USD 400 million. The company plans to expand further into the B2B sector, simultaneously targetting SMEs and B2C firms.
Zamrud, the sovereign wealth fund of Brunei, emerged as the largest disclosed investor with a USD 50 million buy-in. Other new investors include US venture firm Carmenta Capital Management, Bangkok Bank, Thai telco Intouch Holdings and GxH Investments, a partnership between Singapore’s Golden Gate Ventures and South Korea’s Hanwha Asset Management.
France’s GeoPost, Facebook co-founder Eduardo Saverin’s B Capital Group and ride-hailing giant Grab have also made further investments since the Series C round in 2018.
Founded in 2014, Ninja Van uses cutting-edge technology solutions to create a hassle-free delivery experience for e-commerce customers across Southeast Asia. With a network spanning 6 markets – Singapore, Malaysia, Philippines, Indonesia, Thailand and Vietnam, Ninja Van provides logistics services for over 35,000 Southeast Asian partners, including Alibaba’s Lazada, Unilever and Tokopedia.