SINGAPORE: Logistics provider Ninja Van has added Alibaba Group as a new investor after raising US$578 million in a late stage funding round, the Singapore-based firm said on Sunday (Sep 26).
Existing investors in the Series E funding round include existing investors Geopost/DPDgroup, B Capital Group, Monk’s Hill Ventures, and Zamrud, an entity linked to a Southeast Asian sovereign wealth fund.
The funds will be allocated towards infrastructure and technology systems that “will support a sustainable long-term cost structure”, said Ninja Van, launched in 2014, in a statement.
“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 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,” he added.
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