Alibaba, Brunei invest in Singapore logistic firm Ninja Van

Singapore-based logistics startup Ninja Van has raised $578 million in a new funding round backed by China’s e-commerce giant Alibaba Group and the Brunei Investment Agency, bringing the firm’s valuation to more than $1 billion and thus creating another Southeast Asian unicorn.

Existing investors B Capital Group, a venture capital firm set up by Facebook co-founder Eduardo Saverin and Raj Ganguly, a former executive at Bain Capital, and French-German parcel delivery company Geopost/DPDgroup also participated in the fundraising, according to  accompany statement.

Founded in 2014, Ninja Van operates a regional platform across Singapore, Malaysia, Indonesia, Thailand, Vietnam and the Philippines, employing more than 61,000 staff and delivery personnel and currently handling about two million packages a day.

In a previous funding round in May 2020, Ninja Van received capital from Singapore-headquartered ride-hailing and e-commerce firm Grab Holdings.

High potential of e-commerce in Southeast Asia

“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,” said Kenny Ho, Alibaba’s head of investment for Southeast Asia, adding that Alibaba was “confident the partnership would better serve participants in the ecosystem across the region.”

Ninja Van’s clients include Lazada and the e-commerce platform of Singapore tech conglomerate Sea Limited known as Shopee. It also counts Indonesia’s Tokopedia – which recently merged with fellow Indonesia tech company Gojek to form GoTo – to its customers.

In a next step, Ninja Van could seek an initial public offering probably in the coming year.



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Singapore-based logistics startup Ninja Van has raised $578 million in a new funding round backed by China’s e-commerce giant Alibaba Group and the Brunei Investment Agency, bringing the firm’s valuation to more than $1 billion and thus creating another Southeast Asian unicorn. Existing investors B Capital Group, a venture capital firm set up by Facebook co-founder Eduardo Saverin and Raj Ganguly, a former executive at Bain Capital, and French-German parcel delivery company Geopost/DPDgroup also participated in the fundraising, according to  accompany statement. Founded in 2014, Ninja Van operates a regional platform across Singapore, Malaysia, Indonesia, Thailand, Vietnam and the Philippines,...

Singapore-based logistics startup Ninja Van has raised $578 million in a new funding round backed by China’s e-commerce giant Alibaba Group and the Brunei Investment Agency, bringing the firm’s valuation to more than $1 billion and thus creating another Southeast Asian unicorn.

Existing investors B Capital Group, a venture capital firm set up by Facebook co-founder Eduardo Saverin and Raj Ganguly, a former executive at Bain Capital, and French-German parcel delivery company Geopost/DPDgroup also participated in the fundraising, according to  accompany statement.

Founded in 2014, Ninja Van operates a regional platform across Singapore, Malaysia, Indonesia, Thailand, Vietnam and the Philippines, employing more than 61,000 staff and delivery personnel and currently handling about two million packages a day.

In a previous funding round in May 2020, Ninja Van received capital from Singapore-headquartered ride-hailing and e-commerce firm Grab Holdings.

High potential of e-commerce in Southeast Asia

“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,” said Kenny Ho, Alibaba’s head of investment for Southeast Asia, adding that Alibaba was “confident the partnership would better serve participants in the ecosystem across the region.”

Ninja Van’s clients include Lazada and the e-commerce platform of Singapore tech conglomerate Sea Limited known as Shopee. It also counts Indonesia’s Tokopedia – which recently merged with fellow Indonesia tech company Gojek to form GoTo – to its customers.

In a next step, Ninja Van could seek an initial public offering probably in the coming year.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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