Ninja Van has landed $ 578 million in Series E funding, attracting existing and new investors, including Chinese e-commerce giant Alibaba Group. The latest round comes more than a year after securing $ 279 million in Series D and in the midst of talks, it is aiming for public listing in the United States.
Singapore-based logistics services operator Ninja Van said on Sunday its latest funding round attracted existing investors Geopost / DPDgroup, B Capital Group, Monk’s Hill Ventures and Zamrud. Alibaba also participated in this cycle as a new investor, said Ninja Van.
The injection of funds would serve to strengthen its infrastructure and technological systems to support “a long-term sustainable cost structure,” said Ninja Van. He added that the investment would also support the “quality and consistency” of its operations, as well as its micro-supply chain service offerings aimed at helping Southeast Asian companies to exploit business opportunities. e-commerce.
Launched in 2014, Ninja Van is currently present in six Southeast Asian markets, including Indonesia, Thailand, Philippines, Malaysia and Vietnam. The last mile logistics operator delivers some 2 million packages per day and works with more than 1.5 million active shippers across the region, including Lazada, the Alibaba subsidiary, Tokopedia, Zalora and Shopee.
That figure includes unique active senders who have placed an order with Ninja Van in the past 12 months, Ninja Van said, adding that it delivers to nearly 100 million recipients. The company employs more than 61,000 people and delivery people in the region.
Ninja Van Group Co-Founder and CEO Lai Chang Wen said in the statement, “The quality of investors joining us in this investment cycle is a clear signal that the market recognizes the emerging opportunities for logistics logistics. e-commerce in Southeast Asia and how, as a well-established player in the region, Ninja Van is well positioned to play a central role in meeting the changing demands of businesses and consumers. We remain committed to the success of all of our business partners as we move into the next steps of innovation growth. “
Lai told the Financial Times in July he was “a year away” from public listing, possibly in the United States, with talks with advisers reportedly starting.
Ninja Van in May 2020 withdrew $ 279 million from its Series D funding round, which it said would be used to strengthen its presence in the business-to-business (B2B) segment as well as expand its services to small businesses and businesses. . – brands for the general public (B2C). The round has attracted several new and existing investors, including Grab, Golden Gate Ventures Growth Fund, Monk’s Hill Ventures and B Capital, led by Facebook co-founder Eduardo Saverin.
That same month, Ninja Van said it expected further triple-digit volume growth this year in Thailand, where it saw a 300% increase in shipments in 2020. The company would increase its processing capacity for parcels in the country during its new automated sorting. the facility was scheduled to open later this year. The new site would be able to process 800,000 packages per day, supporting overnight delivery nationwide, including Bangkok and the eastern regions, Ninja Van said, adding that he was hiring 1 000 additional employees in Thailand to support 100 new regional and local. distribution centers.
Southeast Asia is expected to welcome 350 million online shoppers by the end of 2021, up from 310 million last year, according to the latest annual survey conducted by Bain & Company and commissioned by Facebook. Online spending is also expected to increase by 60% per person this year, pushing total e-commerce sales to double to $ 254 billion in gross merchandise value by 2026. The average consumer in the region is estimated to be spend $ 381 online this year. compared to $ 238 last year, before reaching $ 671 projected in 2026.