Ninja Van [], a leading eCommerce logistics company in
Southeast Asia, has raised at least US$274 million in new funding since its
series C round in January 2018, its public filings show.

Zamrud, Brunei?s state fund, has taken a significant stake in the company. Other
new investors include US VC firm Carmenta Capital Management, Bangkok Bank, Thai
telco Intouch Holdings, and GxH Investments, a partnership between Singapore?s
Golden Gate Ventures and South Korea?s Hanwha Asset Management.

Existing investors like European logistics major Geopost and B Capital, the
venture capital firm started by Facebook co-founder Eduardo Saverin, have also
made further investments since the series C round.

The funding comes amid a crucial period for the eCommerce industry, which is
proving resilient amid Covid-19 compared to other sectors like travel. Covid-19
has slowed down eCommerce supply chains. At the same time, it has led to
increased demand for certain shopping categories whilehurting others

?Thankfully, Ninja Van is not badly affected by this. Yes, our costs have gone
up. Yes, productivity has gone down significantly. But online shopping is going
to grow,? Changwen Lai [], co-founder and CEO of
the company, said inanother interview
[] .

Ecommerce logistics remains competitive in Southeast Asia. In Indonesia alone,
Ninja Van competes with JNE, J&T Express, and many others.

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