Alibaba joins Ninja Van’s US$578 million funding round
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Logistics provider Ninja Van added Alibaba as a new investor as it raised $578 million in a late stage funding round, the Singapore-based firm said on Sunday.
Existing investors to participate in the round included Europe’s GeoPost/DPDgroup, B Capital Group and Monk’s Hill Ventures.
The funds will be allocated towards infrastructure and technology systems that “will support a sustainable long-term cost structure,” Ninja Van, launched in 2014, said in a statement.
Questions & Answers
Q.Which other investors contributed to Ninja Van's funding round alongside Alibaba?
Which other investors contributed to Ninja Van's funding round alongside Alibaba?
Existing investors GeoPost/DPDgroup from Europe, B Capital Group, and Monk’s Hill Ventures also participated in the funding round. This latest investment saw Ninja Van raise $578 million in total.
Q.How does Ninja Van plan to use the $578 million raised in this funding round?
How does Ninja Van plan to use the $578 million raised in this funding round?
Ninja Van stated the funds will be allocated towards developing infrastructure and technology systems. These improvements are intended to support a sustainable long-term cost structure for the company, which was launched in 2014.
Q.When was Ninja Van established and what type of company is it?
When was Ninja Van established and what type of company is it?
Ninja Van was launched in 2014 and is described as a logistics provider. The company, which is based in Singapore, recently secured significant new investment from Alibaba and other existing backers.
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