Ninja Van raises $578 million in funding round, adds Alibaba as investor
Reuters
Published Sep 26, 2021 01:31AM ET
SINGAPORE (Reuters) - Logistics provider Ninja Van added Alibaba (NYSE:BABA) Group 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.
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Written By: Reuters
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