Business

Ninja Van raises US$578 mil in funding round, adds Alibaba as investor

S’pore-based logistics provider to allocate funds towards infrastructure, tech systems

Updated 4 years ago · Published on 26 Sep 2021 11:00PM

Ninja Van raises US$578 mil in funding round, adds Alibaba as investor — Logistics firm Ninja Van was launched in 2014. – Reuters pic, September 26, 2021

SINGAPORE – Logistics provider Ninja Van has added Alibaba Group as a new investor as it raised US$578 million (RM2.4 billion) in a late-stage funding round, the Singapore-based firm said today.

Existing investors to participate in the round include 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”, said Ninja Van, launched in 2014, in a statement. – Reuters, September 26, 2021

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