Ninja Van, a Singapore-based logistics startup, has secured an additional $279 million in fresh funding as it works to scale its operations to keep up with the surge in e-commerce deliveries in six Southeast Asian countries.
Europe’s GeoPost, Facebook co-founder Eduardo Saverin’s B Capital Group, Monk’s Hill Ventures, Carmenta, Golden Gate Ventures Growth Fund, Intouch Holding, Grab, and two sovereign wealth funds put money in the six-year old startup’s Series D financing round.
The startup, which has raised about $400 million to date, did not disclose its valuation — but an analysis of an early tranche of this round coupled with today’s announcement suggests that Ninja Van is now valued at about $750 million.
Ninja Van claims it delivers more than a million packages across Singapore, Malaysia, the Philippines, Indonesia, Thailand, and Vietnam. It works with several major e-commerce firms including Shopee, Alibaba’s Lazada, Indonesia’s Tokopedia.
In a statement, Ninja Van said it planned to use the fresh capital to make further inroads into the business-to-business sector, while also growing its other existing services.
Written by Manish Singh
This news first appeared on https://techcrunch.com/2020/05/04/singapores-logistics-startup-ninja-van-raises-279m/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+Techcrunch+%28TechCrunch%29 under the title “Singapore’s logistics startup Ninja Van raises $279M”. Bolchha Nepal is not responsible or affiliated towards the opinion expressed in this news article.
