Singapore-based logistics start-up Ninja Van raised US$578 million from its latest Series E funding round, including an investment from Chinese e-commerce giant Alibaba Group Holding.
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This latest round of funding involves participation from existing investors European parcel delivery company Geopost/DPDgroup, investment firm B Capital Group, tech investor Monk’s Hill Ventures and Zamrud, an existing investor linked to a Southeast Asian sovereign wealth fund. Alibaba Group, parent company of Southeast Asia e-commerce platform Lazada, is also participating in this round.
The funds from this round of investment 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. Funds will also be invested in Ninja Van’s suite of micro-supply chain solutions to help Southeast Asian businesses optimise e-commerce opportunities.
“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 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, 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,” continued Mr. Lai Chang Wen.
“We have been working with Ninja Van for several years, and we are very proud to support their outstanding development. By leading this new fundraising, we reinforce our ambition in this key geographical market and reiterate our trust in the management team of the company. This transaction represents a new milestone in the deployment of our Together & Beyond strategy launched last March, which is aimed at accelerating in new markets such as Southeast Asia,” commented Mr. Boris Winkelmann, Chairman and CEO of GeoPost/DPDgroup.
“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.
Since its inception in 2014, Ninja Van has become a leading regional logistics player in Southeast Asia. The company’s logistics network spans Singapore, Malaysia, Indonesia, Thailand, Vietnam and the Philippines, connecting over 1.5 million active shippers with close to 100 million recipients. The company currently employs more than 61,000 staff and delivery personnel that support the delivery of around 2 million parcels a day throughout the region.
“With our dominance and expertise in Southeast Asian e-commerce logistics, we have nurtured an ecosystem that provides value-added services to Small and Medium-sized Enterprises as well as Direct-To-Consumer brands across Southeast Asia. To complement these solutions, we aim to redefine what makes for a delightful delivery by prioritising shipper and recipient satisfaction, and implementing enhanced and effortless issue resolution processes to provide a seamless experience for all users of Ninja Van’s service,” said Chang Wen.