Friday, 4 July 2025
28 C
Singapore
29.3 C
Thailand
22.6 C
Indonesia
28.6 C
Philippines

Ninja Van secures US$279M after the COVID-19 pandemic drives e-commerce surge

Ninja Van recently announced that it had raised US$279M from its investors, who include ride-hailing giant Grab and France’s GeoPost SA, making it one of the few startups that have scored new funding during the COVID-19 pandemic. Monk’s Hill Ventures and Capital Group also joined this Series D funding. This new funding now brings the […]

Ninja Van recently announced that it had raised US$279M from its investors, who include ride-hailing giant Grab and France’s GeoPost SA, making it one of the few startups that have scored new funding during the COVID-19 pandemic. Monk’s Hill Ventures and Capital Group also joined this Series D funding.

This new funding now brings the total capital raised for Ninja Van to US$400 million. Ninja Van helps e-commerce clients deliver packages across six Southeast Asian countries, and it has hugely benefited from the sudden increase in demand for e-commerce services brought about by lockdowns caused by the coronavirus outbreak.

This funding surpassed the US$200M target that the company had set last year, according to Chief Executive Officer Lai Chang Wen. Lai said that such investments show that logistics is something that is here to stay.

Lai is 32 years old, and he founded Ninja Van in 2014 with his two friends, aiming to use modern technology to make the logistics market more efficient. He formerly worked at Barclays Plc. They agreed on the name Ninja Van to reflect the idea of working quietly and still getting things done.

Now, it helps consumer brands from L’Oréal to Wing Tai Holdings Ltd.’s G2000 digitize their firms and sell to consumers, diversifying its clients beyond just e-commerce, reported Deal Street Asia.

Ninja Van also aims to handle deliveries of merchandise for smaller merchants, including social media influencers. Other investors that participated in this Series D funding included Golden Gate Ventures Growth Fund, InTouch Holdings, and Carmenta.

The Indonesia startup operates in six Southeast Asian countries including, Indonesia, the Philippines, Malaysia, and Vietnam, employing more than 30,000 people, 20,000 of them being full-time drivers. The platform is profitable in half of those markets, but it still needs time for the whole business to become solidly profitable, Lai Wen said.

Ninja Van will possibly do another funding round of funding before a sale or IPO, Lai added. “It certainly isn’t the sexiest of companies, but logistics has become a hot space since we invested five years ago,” Lim Kuo-Yi, a managing partner of Monk’s Hill Ventures, said.

“Very few companies at this scale have shown the ability to cover the region comprehensively and is able to demonstrate a credible path to profitability,” Lim added.

Hot this week

Google lets you share smart home access more easily with family and kids

Google Home lets you easily assign Admin or Member roles, even for kids under 13, to manage your smart home access better.

Secretlab teams up with Genshin Impact for first Liyue-inspired chair and desk collection

Secretlab reveals its first Genshin Impact collection, which includes Liyue-themed chairs and a desk inspired by Xiao, Ningguang, and the Lantern Rite.

Microsoft opens pre-orders for Surface Copilot+ PCs in Singapore

Microsoft launches AI-powered Surface Pro and Surface Laptop in Singapore, with pre-orders open ahead of 15 July availability.

China Medical System seeks secondary listing on SGX to strengthen Southeast Asia presence

China Medical System seeks SGX listing to boost Southeast Asia expansion and commercialise innovative drugs through Singapore-based operations.

Apple could launch a low-cost MacBook with an iPhone chip by 2026

Apple may release a cheaper MacBook with an iPhone chip, possibly launching in late 2025 with the A18 Pro and four colour options.

Xiaomi opens new store at City Square Mall and launches Shopee presence in Singapore

Xiaomi opens its ninth store in Singapore at City Square Mall and launches its official Shopee store with promotional offers across both platforms.

Tools for Humanity: Why Southeast Asia is shaping the future of humanness in the Age of AI

Southeast Asia is pioneering the future of digital identity with World ID, offering private, secure, and human-first verification at scale.

Google to roll out update for Pixel 6A battery overheating next week

Google’s July 8 Pixel 6A update limits battery overheating by reducing capacity after 400 cycles, with free replacements for affected users.

Microsoft opens pre-orders for Surface Copilot+ PCs in Singapore

Microsoft launches AI-powered Surface Pro and Surface Laptop in Singapore, with pre-orders open ahead of 15 July availability.

Related Articles

Popular Categories