Ninja Van raises $578 mln in funding round, adds Alibaba as investor

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A Ninja Van supply van is pictured at their workplace in Singapore September 7, 2017. REUTERS/Edgar Su/Information

SINGAPORE, Sept 26 (Reuters) – Logistics supplier Ninja Van added Alibaba Group as a brand new investor because it raised $578 million in a late stage funding spherical, the Singapore-based agency stated on Sunday.

Current traders to take part within the spherical included Europe’s GeoPost/DPDgroup, B Capital Group and Monk’s Hill Ventures.

The funds will likely be allotted in the direction of infrastructure and know-how methods that “will help a sustainable long-term value construction,” Ninja Van, launched in 2014, stated in an announcement.

Reporting by Anshuman Daga; Enhancing by Clarence Fernandez


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