Ninja Logistics (Ninja Van), a Southeast Asian technology-enabled last-mile logistics provider, recently secured US$30 million in funding.
The investment round was led by The Abraaj Group, and saw participation from existing investor Monk's Hill Ventures and new investors B Capital Group and YJ Capital. The transaction is subject to customary closing conditions, and is expected to conclude by the end of the month.
Ninja Van uses sophisticated algorithms to solve complex logistics issues and optimise delivery routes, with the aim of creating a regional logistics ecosystem layering an integrated self-collection network (Ninja Collect) over deliveries, supported by a crowd-sourced fleet partner programme to provide scalable capacity. The company also forges partnerships with complementary transport fleets to optimise utilisation through its proprietary systems and capacity sharing model.
Having successfully executed their model in Singapore, Malaysia and Indonesia, Ninja Van plans to use the capital raised to enter new markets including Thailand, Vietnam and the Philippines, by the end of 2016.
The company will also make significant investments to improve its customer-centric systems and triple customer service headcount across the region. This includes actively revamping operational and customer support processes in conjunction with extensive training, to achieve a seamless and hassle-free experience for their clients and end customers.
Commenting on the investment, Chang Wen Lai, Co-Founder and Chief Executive Officer of Ninja Van said: "This vote of confidence from The Abraaj and our other new investors will allow us to expand beyond tier 1 cities in Southeast Asia to provide extensive coverage to support the growth in e-commerce, and build our ecosystem aggressively to offer a better experience than incumbents and smaller competitors. Continued investments in developing our people and technology, and an acute focus on customer service and customer loyalty, uniquely positions us to redefine logistics in Southeast Asia."
Omar Lodhi, Partner and Head of Asia for The Abraaj Group, said, "The Southeast Asia e-commerce sector is estimated to double in the next four years, with total e-commerce parcel delivery estimated to grow in line with the sector. Last-mile logistics, which is the backbone of e-commerce, remains a bottleneck, and [we believe that] Ninja Van is well-positioned to enhance the e-commerce experience for customers and businesses. As a key enabler of e-commerce businesses, Ninja Van plays an important role in the development of retail, jobs and entrepreneurship in the region and we are excited to partner with them."
The Abraaj Group is a private equity investor that targets businesses in growth markets of Asia, Africa, Latin America, the Middle East and Turkey. For the past decade, it has invested more than US$1.4 billion in Asia in a range of sectors including healthcare, financial services, logistics, e-commerce, consumer goods, and food and beverage.
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