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Ninja Van raises $578 million in funding round, adds Alibaba as investor By Reuters

by Mike Robinson

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© Reuters. Pictured September 7th, 2017, at the Ninja Van office in Singapore is a Ninja Van delivery van. REUTERS/Edgar Su/Files

SINGAPORE (Reuters) – Logistics provider Ninja Van added Alibaba (NYSE:) Group as a new investor as it raised $578 million in a late stage funding round, the Singapore-based firm said on Sunday.

Europe’s GeoPost/DPDgroup and B Capital Group were among the existing investors that participated in this round. Monk’s Hill Ventures was also involved.

Ninja Van released a statement saying that the funds would go towards technology and infrastructure systems which “will support sustainable long-term costs structure.”

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