Ninja truck, a Singapore-based logistics startup, has closed a $ 578 million Series E round to support the growth of its operations infrastructure and technology systems.
Investors include China’s Alibaba Group, as well as existing investors. DPDgroup GeoPost, B Capital Group of Facebook co-founder Eduardo Savering, Monk’s Hill Ventures and Zamrud, a sovereign wealth fund controlled by Brunei, according to their statement.
The latest round topped a valuation of more than $ 1 billion before a possible initial public offering as early as next year, according to media reports.
Ninja Van will use the proceeds to strengthen its operations, including micro-supply chain solutions to optimize e-commerce opportunities in Southeast Asia.
This round comes after their $ 279 million Series D round at roughly $ 750 million valuation in May 2020.
Ninja Van claims that it delivers approximately 2 million packages a day, with over 1.5 million active senders and around 100 million recipients.
Founded in 2014, the company operates its business in Singapore, Malaysia, Indonesia, Thailand, Vietnam, and the Philippines. It currently employs more than 61,000 people.
“We strongly believe in the potential of e-commerce in Southeast Asia, particularly the power of technology-enabled logistics to drive the growth of e-commerce. With Ninja Van’s vast presence and extensive local information in the region, we are confident that our partnership with Ninja Van will allow us to better serve participants in the e-commerce ecosystem throughout the region. ”Said Mr. Kenny Ho, Head of Investments for Southeast Asia, Alibaba Group.