Ninja Van raises US$30mil Series B, led by Abraaj
By Digital News Asia April 19, 2016
- Last-mile logistics startup with operations in four SEA countries
- To expand into Philippines and Thailand, improve its platform, etc.
DUBAI-headquartered [corrected] Abraaj Group announced that it led a US$30-million Series B round of fundraising for Ninja Logistics Pte Ltd (Ninja Van), a technology-enabled, last-mile logistics provider with operations in Singapore, Malaysia and Indonesia, and most recently Vietnam.
Others participating in the round were existing investor Monk’s Hill Ventures and new investors B Capital Group and YJ Capital. In its Series A in March last year, the startup had raised US$2.5 million.
The Series B transaction is subject to customary closing conditions and is expected to conclude by the end of the month, Abraaj said in a statement.
Singapore-headquartered 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 e-commerce businesses, Ninja Van now supports over 3,000 clients across different industries, delivering approximately 15,000 parcels per day, Abraaj claimed.
Ninja Van plans to use the capital raised to roll out in the Philippines and Thailand by the end of 2016; and to also improve its systems and triple customer service headcount across the region.
“This vote of confidence from Abraaj and our other new investors will allow us to expand beyond Tier 1 cities in South-East Asia to provide extensive coverage to support the growth in e-commerce,” said Ninja Van cofounder and chief executive officer Lai Chang Wen (pic below).
It would also allow the company to “build our ecosystem aggressively to offer a better experience than incumbents and smaller competitors,” he added.
Abraaj is an investment firm specialising in private equity investments in the Middle East, North Africa and South Asia regions.
This marks its 28th investment into South-East Asia, the company said in a statement.
“Ninja Van is an innovative business that has developed an efficient logistics operation underpinned by strong technology, and has grown tremendously in the past two years,” said Omar Lodhi, Abraaj partner and head of Asia.
“We are impressed by Ninja Van’s technology platform, management and operational capabilities, and believe it is leading in a sector where innovation is required to succeed.
“Last-mile logistics, which is the backbone of e-commerce, remains a bottleneck, and Ninja Van is well-positioned to enhance the e-commerce experience for customers and businesses,” he added.
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