SITEC Official
Alibaba has invested in Singapore-based logistics startup Ninja Van. The company said in a statement that it raised $578 million in Series E funding, with Alibaba Group joining existing investors in the round.
B Capital Group, founded by Facebook co-founder billionaire Eduardo Saverin, and European postal company GeoPost/DPDgroup are also among the investors.
Sources told Bloomberg that the new funding round would help raise Ninja Van's valuation to well over $1bn ahead of a potential initial public offering in 2022. Ninja Van itself has not disclosed its valuation. In July, the Financial Times quoted a source as saying that Ninja Van had already become a "unicorn", but the company declined to comment. According to VentureCap, investors valued the startup at $779.8 million in the Series C round, The Business Times wrote.
Ninja Van promises to target investments in infrastructure and technology systems that "will support a sustainable long-term cost structure".
source: bloomberg.com
B Capital Group, founded by Facebook co-founder billionaire Eduardo Saverin, and European postal company GeoPost/DPDgroup are also among the investors.
Sources told Bloomberg that the new funding round would help raise Ninja Van's valuation to well over $1bn ahead of a potential initial public offering in 2022. Ninja Van itself has not disclosed its valuation. In July, the Financial Times quoted a source as saying that Ninja Van had already become a "unicorn", but the company declined to comment. According to VentureCap, investors valued the startup at $779.8 million in the Series C round, The Business Times wrote.
Ninja Van promises to target investments in infrastructure and technology systems that "will support a sustainable long-term cost structure".
source: bloomberg.com
