By Staff writer
Company invests in Ninja Logistics Ltd; capital to be used to roll out in new markets, including Thailand, Vietnam and the Philippines
Dubai's Abraaj Group has announced that it has led a $30 million round of fundraising for Ninja Logistics Ltd, a technology enabled logistics provider with operations in Singapore, Malaysia and Indonesia.
The investment, led by Abraaj through one of its Funds, alongside existing investor Monk’s Hill Ventures and new investors B Capital Group and YJ Capital, marks Abraaj’s 28th investment into Southeast Asia, the company said in a statement.
It said logistics is a major beneficiary and enabler of the e-commerce sector in which Abraaj has been active. Abraaj has also made investments in the logistics sector including Peru-based Urbano and Aramex.
Ninja Van's aim is to create a regional logistics ecosystem layering an integrated self-collection network (Ninja Collect) over deliveries, supported by a crowd-sourced fleet partner program to provide scalable capacity.
Having successfully executed their model in Singapore, Malaysia and Indonesia, Ninja Van plans to use the capital raised to roll out in new markets, including Thailand, Vietnam and the Philippines, by the end of 2016.
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.
"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.”
Chang Wen Lai, co-founder and CEO of Ninja Van, added: “We are on a mission to revolutionise the logistics industry in Southeast Asia... This vote of confidence from 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."
The Abraaj Group said it has been present in Asia for over a decade and deployed over $1.4 billion in the region to date in a range of sectors including healthcare, financial services, logistics, e-commerce, consumer goods, and food and beverage.
The transaction is subject to customary closing conditions and is expected to conclude by the end of the month, Abraaj added.For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.