Logistics provider Ninja Van added Alibaba 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.