Stock Markets2 hours ago (Sep 26, 2021 01:35AM ET)
© Reuters. A Ninja Van delivery van is pictured at their office in Singapore September 7, 2017. REUTERS/Edgar Su/Files
SINGAPORE (Reuters) – Logistics provider Ninja Van added Alibaba (NYSE:) Group as a new investor as it raised $578 million in a late stage funding round, the Singapore-based firm said on Sunday.
Existing investors to participate in the round included Europe’s GeoPost/DPDgroup, B Capital Group and Monk’s Hill Ventures.
The funds will be allocated towards infrastructure and technology systems that “will support a sustainable long-term cost structure,” Ninja Van, launched in 2014, said in a statement.
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