Singapore-based logistics service provider Ninja Van has collected $279m in series D funding from a consortium led by logistics service provider GeoPost, the company revealed today.
Mapping software producer Carmenta, ride hailing service Grab and telecommunications firm Intouch Holding all contributed to the round, as did B Capital, Monk’s Hill Ventures, Golden Gate Ventures Growth Fund and two unnamed sovereign wealth funds.
Reports last month suggested Ninja Van had secured $124m in series D funding led by Brunei sovereign wealth fund Zimrud.
The round had a target size of $200m and Ninja Van is now valued at approximately $750m, according to TechCrunch.
Ninja Van runs a last-mile logistics network for online merchants and small businesses across Singapore, Malaysia, Indonesia, Thailand, Vietnam and the Philippines. The company is offering contactless deliveries during the coronavirus pandemic.
The series D capital will enable Ninja Van to expand its existing business-to-consumer pickups and deliveries and double down on its business-to-business offering.
DPD Group, a parcel delivery subsidiary of GeoPost, backed a series C round in 2018 that was reportedly sized at $87m.
Abraaj Group led a $30m series B round in 2016 that featured YJ Capital, a subsidiary of internet company Yahoo Japan, as well as B Capital and Monk’s Hill Ventures. Ninja Van had earlier obtained $2.5m in a 2015 series A co-led by Monk’s Hill and Insas.
