Singaporean e-commerce logistics startup Ninja Van announced the raising of a $2.5 million in Series A round, led by Monk’s Hill Ventures.
Operating under the brand of Ninja Van, Ninja Logistics announce that it had received $2.5 million of funding in a Series A round led by Monk’s Hill Ventures, with participation from Malaysian investment holding firm Insas Berhad and other regional corporates.
This new round of funding will see Kuo-Yi Lim of Monk’s Hill Ventures and Mei Chuen Thong of Insas Berhad joining the board of Ninja Logistics. The capital will be channeled into accelerating product development and further expansion in the Southeast Asia region, which is already seeing heavy investment and competition in the e-commerce space.
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Launched in June 2014, it offers next-day deliveries for e-commerce companies, with services like order creation, real-time integrated milestone updates and automated customer communications. Ninja Van reports that it has a corporate customer base of 300 retailers, including Lazada, Guardian, Pupsik Studio, Love Bonito, Agape Babies among its customer portfolio.
This investment into Ninja Van highlights the growing need for addressing problems in the last mile fulfillment industry, accompanying the rapid rise of e-commerce in the region.
According to the company, the issues include parcel sizes varying significantly, larger shipping volumes, cyclical demand, and wider distribution requirements.
Ninja Van shares that its in-house technology and algorithm teams are also pursuing a number of projects relating greater distribution methods and shorter delivery times.