Singapore-based logistics service provider Ninja Logistics raised $30m yesterday in a funding round featuring YJ Capital, which acts as internet company Yahoo Japan’s corporate venturing unit.
Private equity firm Abraaj Group led the round through an undisclosed fund, while venture capital firms Monk’s Hill Ventures and B Capital Group also participated.
Ninja Van operates a last-mile logistics service for e-commerce companies in Singapore, Malaysia and Indonesia, forming partnerships with transport fleets and using algorithms to optimise local delivery routes. It delivers around 15,000 packages each day.
The company intends to eventually build a regional logistics system that combines self-collection capabilities with a crowdsourced fleet. It plans to use the funding to expand into markets including Thailand, Vietnam and the Philippines before the end of 2016 while also tripling the size of its customer service team.
Chang Wen Lai, co-founder and CEO of Ninja Van, said: “This vote of confidence from Abraaj and our other new investors will allow us to expand beyond tier 1 cities in Southeast Asia to provide extensive coverage to support the growth in e-commerce, and build our ecosystem aggressively to offer a better experience than incumbents and smaller competitors.
“Continued investments in developing our people and technology, and an acute focus on customer service and customer loyalty, uniquely positions us to redefine logistics in Southeast Asia.”
The round follows a S$3.5m ($2.5m) series A round in March 2015 led by Monk’s Hill Ventures and backed by investment group Insas Berhad.
– Image courtesy of Ninja Van