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Ninja Van raises additional funds through Series C round

LOGISTICS firm Ninja Van said on Tuesday it has raised additional funding through a Series C fundraising round. No funding amount was disclosed.

It did not reveal all of its fresh crop of investors, but said that DPDgroup - one of the largest international parcel delivery networks in Europe - is one of Ninja Van's latest investors.

Ninja Van said that the funds will be used to further consolidate its presence across its operating markets in Singapore, Malaysia, Indonesia, Thailand, Vietnam and the Philippines.

"With an established network in South-east Asia covering six high-growth markets, the capital raised will be invested towards further improving technology and operational capabilities to help Ninja Van continue our drive in offering hassle-free delivery solutions to businesses of all sizes," said Lai Chang Wen, CEO of Ninja Van, in a media statement.

Ninja Van has increased its total staff strength to more than 1,000, and continues to work with bluechip investors such as private equity firm The Abraaj Group and early-stage investor Monk's Hill Ventures.

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Goldman Sachs (Singapore) and Allen & Overy acted as exclusive financial adviser and legal counsel to Ninja Van.

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