Ninja Van, a renowned logistics startup based in Singapore, has reportedly announced that it has secured a funding of $279 million in the Series D investment round. Monk’s Hill Ventures, Europe’s GeoPost, Grab, Intouch Holding, Golden Gate Ventures Growth Fund, Carmenta, Facebook co-founder Eduardo Saverin’s B Capital Group and two other sovereign wealth funds participated in the funding round.
The six-year-old startup receives this investment at a period where it is working to scale up its delivery operations in an effort to keep up with a significant surge that is being witnessed in the field of e-commerce deliveries across six Southeast Asian nations.
Ninja Van has raised approximately $400 million to date. While the company has not disclosed its total valuation, an early tranche analysis of investment round along with the latest announcement estimates that the company has a valuation of over $750 million.
The company claims to deliver over a million packages throughout Malaysia, Singapore, Thailand, Vietnam, Indonesia, and the Philippines. The startup has tied up with many e-commerce firms, which also includes Alibaba’s Lazada, Shopee, and Indonesia’s Tokopedia.
While speaking about the newly raised funds the company stated that it aimed to utilize the new capital to foray further into the B2B (business-to-business) sector, while growing its other business verticals as well.
Chief Executive Officer of Ninja Van, Lai Chang Wen stated that the coronavirus pandemic scenario has been helpful for it to avoid the economic fallout that has been brought across the region, particularly since the dynamics have changed. With the region’s growing focus on e-commerce, the company thinks this would be an inflection point in Southeast Asia for e-commerce.
Ninja Van now has its name in a select list of companies that have secured a significant amount of investment in 2020, including GudangAda, an Indonesian online marketplace. The company managed to secure a $25.4 million deal recently.
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https://techcrunch.com/2020/05/04/singapores-logistics-startup-ninja-van-raises-279m/