Ninja Van gets $30m capital boost
Dubai-based Abraaj Group has led a US$30-million Series B round of fundraising for Singapore’s Ninja Logistics (Ninja Van), a technology-enabled last-mile logistics provider with a presence in Indonesia, Malaysia and Singapore, and just lately Vietnam.
Ninja Van plans to use the fresh capital to roll out in the Philippines and Thailand this year, and to also upgrade its systems and triple its customer service headcount.
Others in the funding round were existing investor Monk’s Hill Ventures joined by B Capital Group and YJ Capital. In its Series A in March last year, the startup raised US$2.5 million. This latest transaction is subject to customary closing conditions and is expected to wrap by the end of the month, according to Abraaj.
Ninja Van uses algorithms to solve complex logistics issues and optimise delivery routes. It also forges partnerships with complementary transport fleets through a capacity-sharing model.
While starting out as a logistics provider for eCommerce businesses, Ninja Van now supports more than 3000 clients across a range of industries, delivering about 15,000 parcels a day.
“This vote of confidence from Abraaj and our other new investors will allow us to expand beyond tier-one cities in Southeast Asia,” says Ninja Van cofounder/CEO Lai Chang Wen.
Abraaj is an investment firm specialising in private-equity investments in the Middle East, North Africa and South Asia. This is its 28th investment into Southeast Asia.