26 Sept 2021
Ninja Van adds Alibaba as an Investor and Raises $578M in Funding Round
The Index Today
Singapore-based logistics provider, Ninja Van has added Alibaba Group as an investor after raising $578 million in one of its latest funding rounds.
The Series E funding round comprised of a number of investors including B Capital Group, Zamrud, and Geopost. Ninja Van released a statement saying the funds will primarily be allocated towards technology systems and infrastructure to help develop a sustainable structure.
Lai Chang Wen, CEO at Ninja Van Group, said “The quality of investors joining us in this round of investment is a clear signal that the market recognized 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.”
Ninja Van has built vast delivery networks across major countries such as a Thailand, Indonesia, Malaysia and the Philippines. The firm conducts around 2 million deliveries on a daily basis and has employed over 60,000 people in the region.