Deals
Ninja Van’s Big-Ticket Funding Signals Startup Deal Resilience
- It delivers over a million parcels daily across Southeast Asia
- Covid-19 is stress-testing startups across the globe
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Singapore’s Ninja Van has raised $279 million from backers including France’s GeoPost SA and ride-hailing giant Grab Holdings Inc., scoring one of Southeast Asia’s largest startup investments since Covid-19 was declared a pandemic.
Facebook co-founder Eduardo Saverin’s B Capital Group and Monk’s Hill Ventures were among those that took part in the parcel delivery firm’s Series D round, completed after the outbreak drove a surge in online shopping among people sheltering at home. The Southeast Asian startup joins a select club of firms that have raised significant money this year, including Indonesian online marketplace GudangAda with a $25.4 million deal.