Singapore-based logistics startup Ninja Van secures investment from Alibaba - Pi...

Singapore-based logistics startup Ninja Van secures investment from Alibaba

Singapore-based logistics startup Ninja Van secures investment from Alibaba

11 hours ago

Ninja Van, a Singapore-based logistics startup, raised USD578 million from investors including Chinese e-commerce giant Alibaba, bring its valuation to more than USD1 billion as it gets close to a stock listing.

Detail:

The series E funding round included investment from Alibaba, existing investors DPDgroup parent Geopost, investment firm B Capital Group, early-stage tech investor Monk’s Hill Ventures and Zamrud, a sovereign wealth fund controlled by Brunei, the company said in a statement on Sunday.

The series E funding round is so far the company’s biggest fundraising and it bring the total funding amount to USD976.5 million. Prior to the funding round, Ninja Van has raised USD279 million in series D round in April 2020 and completed a USD87 million series C round in January, 2018.

Ninja Van will use the net proceeds to strengthen its infrastructure that include the development of micro-supply chain solutions.

Founded in 2014, Ninja Van operates a branches in Singapore, Malaysia, Indonesia, Thailand, Vietnam and the Philippines. It employs more than 61,000 staff and claimed delivering about 2 million packages a day.

Ninjia Van’s clients include southeast Asian e-commerce giant Lazada and Shoppe.

Citing source closed to the matter, Bloomberg reported that Ninjia Van could seek an initial public offering next year. If its IPO go through next year, it will follow the footsteps of industry peers to go public as logistic business flourished during the coronavirus pandemic.

JD Logistics, a unit of Chinese e-commerce giant JD.com, raised USD3.2 billion in its IPO in Hong Kong in May. Full Truck Alliance, a Chinese service for freight shipping similar to Uber Technologies, raised USD1.6 billion in June.

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