Ninja Van raises $781m in funding round, adds Alibaba as investor
A Ninja Van delivery van is pictured at their office in Singapore, on Sept 7, 2017.
PHOTO: Reuters
PUBLISHED ONSeptember 27, 2021 1:58 AM
SINGAPORE - Logistics provider Ninja Van added Alibaba Group as a new investor as it raised $578 million (S$781 million) in a late stage funding round, the Singapore-based firm said on Sunday.
Existing investors to participate in the round included Europe's GeoPost/DPDgroup, B Capital Group and Monk's Hill Ventures.
The funds will be allocated towards infrastructure and technology systems that "will support a sustainable long-term cost structure," Ninja Van, launched in 2014, said in a statement.