Alibaba nearing investment in S’pore unicorn Ninja Van

Big operations: A Ninja Van employee unloads his delivery van in Singapore. The company operates in six markets in South-East Asia and delivers close to two million parcels a day. — Reuters

SINGAPORE: Ninja Van, a Singaporean logistics startup, is set to raise about US$580mil (RM2.43bil) from investors including Chinese e-commerce giant Alibaba Group Holding Ltd, according to people familiar with the matter.

Some of Ninja Van’s existing investors will also participate in the series E round, the people said, asking not to be identified because the matter is private.