Singapore’s logistics startup Ninja raises $279M

Ninja Van, a Singapore-based logistics startup, has secured an additional $279 million in fresh funding as it works to scale its operations to keep up with the surge in e-commerce deliveries in six Southeast Asian countries.

Europe’s GeoPost, Facebook co-founder Eduardo Saverin’s B Capital Group, Monk’s Hill Ventures, Carmenta, Golden Gate Ventures Growth Fund, Intouch Holding, Grab, and two sovereign wealth funds put money in the six-year old startup’s Series D financing round.

The startup, which has raised about $400 million to date, did not disclose its valuation — but an analysis of an early tranche of this round coupled with today’s announcement suggests that Ninja Van is now valued at about $750 million.

Ninja Van claims it delivers more than a million packages across Singapore, Malaysia, the Philippines, Indonesia, Thailand, and Vietnam. It works with several major e-commerce firms including Shopee, Alibaba’s Lazada, Indonesia’s Tokopedia.

In a statement, Ninja Van said it planned to use the fresh capital to make further inroads into the business-to-business sector, while also growing its other existing services.