Logistics company Ninja Van bags $394.73m in series D round

B Capital Group, Monk's Hill Ventures and Grab participated in the round.

Logistics firm Ninja Van has concluded a $394.73m (US$279m) series D funding round led by its existing investor GeoPost alongside two sovereign wealth funds, an announcement revealed.

B Capital Group and Monk's Hill Ventures also participated in the round. Other investors joining the round include Carmenta, Grab, Golden Gate Ventures Growth Fund, and Intouch Holdings.

Ninja Van’s CEO Lai Chang Wen said that they will use the funds to focus on their delivery solutions across Southeast Asia.

Based in Singapore, Ninja Van is operating in six markets: Singapore, Malaysia, Indonesia, the Philippines, Thailand, and Vietnam. It claims to deliver around one million parcels daily.