Ninja Van, a Singapore-based logistics technology company, said that it has secured $578 million in Series E investment from previous investors Geopost/DPDgroup, B Capital Group, Monk’s Hill Ventures, and Zamrud, a Southeast Asian sovereign wealth fund.
Alibaba Group, a new investor that has previously invested in prominent Southeast Asian e-commerce businesses such as Lazada and Tokopedia, was also a part of the fundraising round.
It came after the firm announced a US $274 million Series D investment round in May 2020.
In a press statement, Ninja Van said that the funding “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.”
To help Southeast Asian firms take advantage of e-commerce prospects, the company will invest in its portfolio of micro-supply chain solutions.
“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 SEA 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.
“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.”
Ninja Van, which was founded in 2014, operates in key Southeast Asia markets such as Singapore, Malaysia, Indonesia, Thailand, Vietnam, and the Philippines.
According to the firm, it presently employs over 61,000 people, including delivery employees, who help transport approximately two million items every day across the area.