The spike in business has prompted logistics firm Ninja Van to hire more delivery drivers. Photo: Edgar Su, Reuters.
Logistics provider Ninja Van added Alibaba Group as a new investor as it raised $578 million in a late stage funding round, the Singapore-based firm said on Sunday.
Existing investors to participate in the round included Europe’s GeoPost/DPDgroup, B Capital Group and Monk’s Hill Ventures.
The funds will be allocated towards infrastructure and technology systems that “will support a sustainable long-term cost structure,” Ninja Van, launched in 2014, said in a statement.
• Reuters with additional editing by Jim Pollard
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