Logistics company, Ninja Van, raises $274 million in funding.

[The_King]

Ninja Van, one of the leading logistics and delivery companies in SouthEast Asia has raised north of $274 million in fresh funding, according to a report by Tech In Asia ^[1].

One of the significant investors for the round is Zamrud, Brunei's state fund.

Other new investors include Carmenta Capital Management (US venture capital firm), Bangkok Bank, Intouch Holdings (Thai telco), and GxH Investments. 

Facebook co-founder, Eduardo Saverin's venture capital firm, B Capital group, is also an investor in the company.

Some of Ninja Van's fleet.

This new funding could be the turning point for the company's massive growth into the SouthEast Asian region, as a larger part of the region goes digital amid the global health situation.

In a statement to the media, Ninja Van CEO mentions that the company has not been significantly affected by the nationwide lock-downs as badly as other companies.

"Thankfully, Ninja Van is not badly affected by this. Yes, our costs have gone up. Yes, productivity has gone down significantly. But online shopping is going to grow”, mentions Changwen Lai, co-founder and CEO of Ninja Van.

 

https://beamstart.news/publication/127221/ninja-van-raises-funding-274million

 

[Homelander]

Not bad, still can get funding during this economic climate

[socrates469bc]

1 hour ago, Homelander said:

Not bad, still can get funding during this economic climate

 

just goes to show there r plenty of kgks out there.

 

last mile delivery is a low margin high volume biz but still can make some money.

 

i will be interested to see if the biz can generate even a 5% roi.

[aaur4man]

At least in the short term there will be jobs created especially delivery