Ninja Van bags US$578m in funding to boost tech and infrastructure

Ninja Van, a tech-enabled logistics company operating in Southeast Asia, has secured US$578 million in a Series E funding round. The funds will be allocated towards infrastructure and technology systems that will support a sustainable long-term cost structure and the quality and consistency of its operations. The funds will also be invested in Ninja Van's suite of micro-supply chain solutions to help Southeast Asian businesses optimise on eCommerce opportunities.

When asked if the funds will be channelled towards marketing, Ninja Van's spokesperson said it will continue to do what is best for the markets that will take the company to greater heights. The latest round of funding involved participation from existing investors such as DPDgroup from GeoPost, B Capital Group, Monk’s Hill Ventures, and Zamrud; an entity linked to a Southeast Asian sovereign wealth fund. Alibaba Group also participated in the funding round.

Lai Chang Wen (pictured), co-founder and CEO of Ninja Van Group, said that the quality of investors that joined in this round of investment was a clear signal that the market recognises the emerging opportunities for eCommerce logistics in Southeast Asia, and how the company is positioned to take a central role in meeting the shifting demands of both businesses and consumers; as an entrenched player in the region. 

Ninja Van was launched in Singapore in 2014 as a last-mile logistics company. It has since grown into a regional logistics player in Southeast Asia, with networks in Singapore, Malaysia, Indonesia, Thailand, Vietnam, and the Philippines. The company currently employs more than 61,000 staff and delivery personnel that support the delivery of around two million parcels a day throughout the region.

The latest funding comes as Ninja Van is reportedly eyeing an IPO next year. The Financial Times reported in July this year that Ninja Van is eyeing an IPO as early as 2022 after being valued at US$1 billion. Quoting Lai, FT reported earlier that Ninja Van is "a year away" from an IPO and that the company was seeking advisers to kickstart discussions on the IPO process back then. The US was also reported as the most likely venue for the listing, FT said.

Separately, Ninja Van's chief commercial officer, Winston Seow, took on the new title of chief marketing and enablement officer recently. His responsibilities remain unchanged, with Seow still managing marketing, communications, sales capabilities enablement, and insights initiatives across the business. He is also responsible for driving the strategic direction of Ninja Van’s self-serve sales channels, playing a key role in the company's customer acquisition and retention efforts across the region.

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