Singapore-based logistics startup Ninja Van secures $ 578 million Series E-TechCrunch | MCUTimes

Singapore-based logistics startup Ninja Van secures $ 578 million Series E-TechCrunch

Ninja Van, a logistics startup in Singapore, has closed a $ 578 million Series E to support operating infrastructure and growth in technology systems.

Investors include China’s Alibaba Group as well as existing investors DPDgroup’s GeoPost, Facebook co-founder Eduardo Saverings B Capital Group, Monk’s Hill Ventures and Zamrud, a sovereign wealth fund controlled by Brunei, based on its statement.

The latest round peaked at a valuation of more than $ 1 billion ahead of a potential first public offering as early as next year, according to media reports.

Ninja Van will use the proceeds to strengthen its business, including micro-supply chain solutions to optimize e-commerce opportunities in Southeast Asia.

This round comes after its $ 279 million Series D series to a value of approximately $ 750 million by May 2020.

Ninja Van claims that it delivers approximately 2 million packages a day with more than 1.5 million active senders and approximately 100 million recipients.

The company was founded in 2014 and operates its business in Singapore, Malaysia, Indonesia, Thailand, Vietnam and the Philippines. It currently employs more than 61,000 people.

“We strongly believe in the potential of e-commerce in Southeast Asia, especially the power of technology-enabled logistics to promote e-commerce growth. With Ninja Van’s large presence and extensive local insight into the region, we are confident that our partnership with Ninja Van would enable us to better serve the participants in the e-commerce ecosystem throughout the region. ”Said Kenny Ho, Investment Manager for Southeast Asia, Alibaba Group.

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