Ninja Van Secures $578M Series E Funding

Ninja Van Secures $578 Million in Series E Funding

Ninja Van, a logistics startup headquartered in Singapore, has successfully completed a $578 million Series E funding round. This capital injection is intended to bolster the company’s infrastructure and facilitate the expansion of its technology systems.

Investment Details

The investment round saw participation from a diverse group of investors. These include Alibaba Group from China, alongside existing stakeholders such as DPDgroup’s GeoPost, B Capital Group – led by Facebook co-founder Eduardo Saverin – Monk’s Hill Ventures, and Zamrud, Brunei’s sovereign wealth fund.

Recent reports suggest the funding round valued the company at over $1 billion. This valuation precedes a potential initial public offering (IPO) anticipated as early as the coming year. However, a company representative declined to confirm the valuation details.

Total Funding and Previous Rounds

With this Series E round, Ninja Van’s cumulative funding now totals $976.5 million, as confirmed by a spokesperson to TechCrunch.

This latest investment follows a $279 million Series D round in April 2020, which valued the company at approximately $750 million. Prior to that, a $87 million Series C round was secured in January 2018.

Strategic Use of Funds

The newly acquired funds will be strategically allocated to enhance Ninja Van’s operational capabilities. A key focus will be on developing micro supply chain solutions designed to capitalize on the growing e-commerce opportunities within Southeast Asia.

Operational Scale

Ninja Van currently processes approximately 2 million parcels daily. The company serves a network of over 1.5 million active shippers and reaches around 100 million recipients.

Company Overview

Established in 2014 by Lai Chang Wen (CEO), Shaun Chong (CTO), and Boxian Tan (CPO), Ninja Van operates across six key Southeast Asian markets: Singapore, Malaysia, Indonesia, Thailand, Vietnam, and the Philippines.

The company’s workforce currently exceeds 61,000 employees.

Alibaba Group’s Perspective

Mr. Kenny Ho, Head of Investment for Southeast Asia at Alibaba Group, stated: “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.”