InVent Made Its Largest Investment With Over 8 Billion Baht Series D For Ninja Van
InVent, corporate venture-capital arm of Intouch Holdings plc., has invested 8.37 billion baht US$279 million) in Series D round for Ninja Van, a logistics and courier service provider in Southeast Asia. The deal is the largest investment of InVent. Along with InVent, other investors of the deal are GeoPost SA and Grab.
Narongpon Boonsongpaisan, Head of InVent by Intouch Holdings said investment in logistics is a significant move of InVent corresponding to a growth of e-commerce in Thailand and the global market. Ninja Van is a tech-enabled express delivery company providing hassle-free delivery services for businesses of all sizes across Southeast Asia.
According to e-Conomy SEA 2019, e-commerce sales growth during 2015-2019 surged 62%, with a growth of Thailand market was 54% because more consumers were shifting to online shopping. Overall parcels delivery service is rising with over 4 million parcels delivery a day and the market reached 66 billion baht. “The market has been totally transformed to digital economy,” he said.
“InVent hopes that this joint-investment will support the small and medium enterprise logistics business and help boost value sales during the Covid-19 pandemic. This crisis has substantially changed and encouraged the growth of logistics and e-commerce in Thailand and Southeast Asia,” he said.
Launched in 2014, Ninja Van started operations in Singapore with a network covering six countries across Southeast Asia: Singapore, Malaysia, Philippines, Indonesia, Thailand and Vietnam. In 2016, Ninja Van launched in Thailand owing to high potential logistics business in the market and growing demand of e-commerce.
Veerachai Chusakulporn, Country Head of Ninja Van Thailand said apart from efficiency improvement in logistics to supporting e-commerce growth, all the six countries of Ninja Van also aim to create one stop service ecosystem of logistics, called “Ninja Direct” for local SMEs and open opportunities to Asean market.
Ninja Van will expand its logistics and courier solutions to serve business-to-business (B2B) commerce fostering a use of technology for hassle-free delivery services for businesses of all sizes.