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Ninja Van, a Singapore-based logistics start-up, has closed a $ 578 million Series E round to support the growth of its operating infrastructure and technology systems.

Investors include Chinese group Alibaba as well as existing investors GeoPost of DPDgroup, B Capital Group of Facebook co-founder Eduardo Savering, Monk’s Hill Ventures and Zamrud, a sovereign wealth fund controlled by Brunei, according to his statement.

The latest round reached a valuation of over $ 1 billion ahead of a potential initial public offering as early as next year, according to media reports.

Ninja Van will use the product to strengthen its operations, including micro-supply chain solutions to optimize e-commerce opportunities in Southeast Asia.

This round comes after his Series D round of $ 279 million at around $ 750 million valuation in May 2020.

Ninja Van claims to deliver around 2 million packages per day, with over 1.5 million active senders and around 100 million recipients.

Founded in 2014, the company operates in Singapore, Malaysia, Indonesia, Thailand, Vietnam and the Philippines. It currently employs over 61,000 people.

“We strongly believe in the potential of e-commerce in Southeast Asia, especially in the power of technology-based logistics to fuel the growth of e-commerce. With Ninja Van’s vast presence and vast local knowledge in the region, we are confident that our partnership with Ninja Van would allow us to better serve participants in the e-commerce ecosystem across the region. said Kenny Ho, Southeast Asia Investment Manager, Alibaba Group.

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