Singaporean logistics-tech platform Ninja Van has secured nearly US$124 million in a Series D round of funding from new and existing investors, including Geopost and Facebook Co-founder Eduardo Saverin’s B Capital, say various news reports citing public filings.
Other participants are US-based Carmenta Capital, Brunei’s state-owned fund Zamrud Sovereign Wealth Fund, Bangkok Bank, Thai telco Intouch and GxH Investments, also joined the round.
Ninja Van is yet to confirm the news.
Founded in 2014, NinjaVan is a tech-enabled delivery system operating in Southeast Asia. It offers custom solutions for different individuals to fulfil their logistics needs.
The firm also recently launched Ninja Direct, a feature that helps online sellers, source, purchase, ship and finance wholesale products.
In a recent interview with the Peak, Ninja Van’s CEO and Co-founder Chang Wen Lai spoke about the changing landscape for retail companies amid the COVID-19 crisis.
“The big question here is, when will social distancing end? Retail may open again, but will footfall remains the same in the next year? Previously, online was considered ancillary to the overall revenue, but COVID-19 has forced the retail world to shift online,” he said.
Also Read: Ninja Van and Grab join forces for intercity parcel delivery service
Ninja Van recently also launched a national movement for individuals and organisations, #SGPAYSITFORWARD, where people can help vulnerable communities in Singapore by buying an essential care package.
The company raised its Series C round in January 2018, led by international parcel delivery firm DPD Group.
To date, it has raised a total of US$241.5M in funding over five rounds.
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Image Credit: Ninja Van
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