Singapore-based Southeast Asian logistics firm, Ninja Van, achieves a successful Series E funding round, raising US$578 million and adds Alibaba Group to investor portfolio.
Singapore’s Ninja Van Group is a tech-enabled logistics company operating in Southeast Asia. The logistics firm successfully raised US$578 million in Series E funding at the end of September. Ninja Van’s funding round involved current investors Geopost/DPDgroup, B Capital Group, Monk’s Hill Ventures, and Zamrud, and Alibaba Group, a parent company of Southeast Asian e-comerce platform Lazada, also participated in this round.
“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.” said Mr. Kenny Ho, Head of Investment for Southeast Asia, Alibaba Group.
The funds raised will be invested in the company’s infrastructure and technology systems, that will work to facilitate smooth operations, sustain a long-term cost structure, and in improving Ninja Van’s micro-supply chain solutions for businesses in Southeast Asia.
“The quality of investors joining us in this round of investment is a clear signal that the market recognizes 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, the Co-founder and Chief Executive Officer (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.”
Co-founded in 2014 by Lai Chang Wen, Shaun Chong, and Tan Boxian, Ninja Van has grown to become a leading logistics platform in Singapore, Thailand, Vietnam, Malaysia, Indonesia, and the Philippines. Bringing together over 1.5 million active shippers and almost 100 million recipients, Ninja Van currently employs over 60,000 staff to support the delivery around 2 million parcels a day throughout Southeast Asia.
Featured banner image credit: media.ninjavan.co