Singapore-based logistics startup Ninja Van announced on Sunday that it has secured $578 million in a Series E funding round.

This latest round of funding involves participation from existing investors Geopost/DPDgroup, B Capital Group, Monk’s Hill Ventures, and Zamrud, an entity linked to a Southeast Asian sovereign wealth fund.

China-based e-commerce tech giant Alibaba Group, which is also the parent company of Southeast Asia e-commerce platform Lazada, has also participated in this round, Ninja Van said in a statement.

The funds will be allocated towards infrastructure and technology systems that will support a sustainable long-term cost structure, as well as the quality and consistency of Ninja Van’s operations. Funds will also be invested in Ninja Van’s suite of micro-supply chain solutions to help Southeast Asian businesses optimize e-commerce opportunities.

“The quality of investors joining us in this round of investment is a clear signal that the market recognizes the emerging opportunities for e-commerce logistics in Southeast Asia and how as an entrenched player in the region, Ninja Van is positioned to take a central role in meeting the shifting demands of both businesses and consumers,” said Ninja Van Group Co-Founder and Chief Executive Officer Lai Chang Wen said.

“We strongly believe in the potential of e-commerce in Southeast Asia, in particular, the power of technology-enabled logistics to fuel e-commerce growth. With Ninja Van’s vast presence and extensive local insights in the region, we are confident that our partnership with Ninja Van would enable us to better serve participants in the e-commerce ecosystem across the region,” said Kenny Ho, Head of Investment for Southeast Asia, Alibaba Group.

Since its inception in 2014, Ninja Van has become a regional logistics player in Southeast Asia. The company’s end-to-end logistics network spans Singapore, Malaysia, Indonesia, Thailand, Vietnam, and the Philippines, connecting over 1.5 million active shippers with close to 100 million recipients.

The company currently employs more than 61,000 staff and delivery personnel that support the delivery of around 2 million parcels a day throughout the region.

“With our dominance and expertise in Southeast Asian e-commerce logistics, we have nurtured an ecosystem that provides value-added services to Small and Medium-sized Enterprises as well as Direct-To-Consumer brands across Southeast Asia. To complement these solutions, we aim to redefine what makes for a delightful delivery by prioritizing shipper and recipient satisfaction, and implementing enhanced and effortless issue resolution processes to provide a seamless experience for all users of Ninja Van’s service,” said Lai.

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