The Edge Singapore Published on Sun, Sep 26, 2021
Logistics firm Ninja Van has raised US$578 million in a Series E funding round from a group of investors including Alibaba Group Holdings.
A Financial Times report from July notes that with a previous funding round of US$279 million last year, Ninja Van had already hit unicorn status with a valuation crossing US$1 billion, and that it plans to go for a listing, likely in the US, in around a year’s time.
The other participants in this round include existing investors Geopost/DPDgroup, B Capital Group, Monk’s Hill Ventures, and Zamrud, an entity linked to Brunei’s sovereign wealth fund.
“The quality of investors joining us in this round of investment is a clear signal that the market recognizes the emerging opportunities for e-commerce logistics in Southeast Asia,” says Lai Chang Wen, co-founder and CEO of Ninja Van Group.
He adds that as an “entrenched player” in the region, the company is positioned “to take a central role” in meeting the shifting demands of both businesses and consumers.
Kenny Ho, head of investment for Southeast Asia at Alibaba Group says the company strongly believes in the potential of ecommerce in this region.
“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,” he adds.
“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,” says Boris Winkelmann, Chairman and CEO of GeoPost/DPDgroup.
According to Ninja Van, which was founded in 2014, the funds from this latest round of investment will be allocated towards infrastructure and technology systems that will “support a sustainable long-term cost structure” and to also go towards “quality and consistency” of its operations.
The 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 company now delivers around two million parcels a day across the region and hires more than 61,000 staff and delivery personnel.