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
