By Eileen Yu for By The Way | September 26, 2021 | Topic: E-Commerce
Ninja Van has snagged $578 million in Series E funding, pulling in existing and new investors that include Chinese e-commerce giant Alibaba Group. The latest round comes over a year after it secured $279 million in Series D and amidst talks it is targeting a US public listing.
Singapore-based logistics services operator Ninja Van said Sunday its latest funding round pulled in existing investors Geopost/DPDgroup, B Capital Group, Monk's Hill Ventures, and Zamrud. Alibaba also participated in this round as a new investor, said Ninja Van.
The funds injection would go towards beefing up its infrastructure and technology systems to support "a sustainable long-term cost structure", Ninja Van said. It added that the investment also would support the "quality and consistency" of its operations, as well as its micro-supply chain service offerings aimed at helping businesses in Southeast Asia tap e-commerce opportunities.