Ninja Van raises $ 578 million in funding round, Alibaba adds as investor By Reuters

© Reuters. A Ninja Van delivery van is pictured in their Singapore office on September 7, 2017. REUTERS / Edgar Su / Files

SINGAPORE (Reuters) – Logistics provider Ninja Van added Ali Baba (NYSE 🙂 Group as a new investor as it raised $ 578 million in a late stage funding round, the Singapore-based company said on Sunday.

Existing investors who participated in the roundtable included GeoPost / DPDgroup, B Capital Group and Monk’s Hill Ventures.

The funds will be allocated to infrastructure and technological systems that “will support a long-term sustainable cost structure,” Ninja Van, launched in 2014, said in a statement.

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