Southeast Asia logistics firm Ninja Van secures Series C
Ninja Van, a Singapore-headquartered last-mile logistics services provider with regional presence, has completed a Series C round of funding.
New investor DPD Group, a European parcel delivery firm that claims to deliver four million parcels worldwide every day, participated in the round alongside unnamed additional investors. The size of the investment was not disclosed, but Tech in Asia said the firm has raised at least $87 million, making it one of the most well-funded logistics start-ups in the region.
Ninja Van was founded in Singapore in 2014 and subsequently entered Malaysia, Indonesia, Thailand, Vietnam, and the Philippines. The company's technology platform allows for multiple pick-ups and deliveries on a single route. It has also expanded into the business-to-business (B2B) segment, providing end-to-end logistics solutions to corporates.
Through the platform, customers can track their parcels, receive real-time updates and gain access to alternative pick-up points. In addition to its own fleet of vehicles and delivery personnel, Ninja Van also has hundreds of drop-off points across the region that allows customers to drop off and collect their parcels.
Monk’s Hill Ventures led the company’s $2.5 million Series A round in 2015. The Abraaj Group led a $30 million Series B round in April 2016, with participation from YJ Capital, B Capital Group, and Monk’s Hill.
“With an established network in Southeast Asia covering six high growth markets, the capital raised will be invested towards further improving technology and operational capabilities to help Ninja Van continue our drive in offering hassle-free delivery solutions to businesses of all sizes,” Lai Chang Wen, CEO of Ninja Van, said in a statement.
Several other delivery start-ups address Asia's last-mile logistics market. For example, both GoGoVan – which merged with China’s 58 Suyun – and Lalamove started in Hong Kong and then expanded into Southeast Asia. Deliveree, which received a Series A round in October last year, operates a platform that connects customers to drivers for last-mile delivery.
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