Ninja Van Said to Halve Valuation in Latest Funding Round

Logistics start-up Ninja Van is in talks to raise an internal round of funding that will slash its valuation by about half, the latest sign of tech companies struggling to navigate the financing winter plaguing South-east Asia.

- BLOOMBERG

Singapore-based Ninja Van, backed by Alibaba Group Holding, is set to raise US$80 million (S$102.8 million) in a round that will reduce its valuation to about US$1 billion, according to people familiar with the matter.

Existing investors B Capital Group—the venture capital firm set up by Meta Platforms cofounder Eduardo Saverin and Mr Raj Ganguly—and Monk's Hill Ventures will be leading the round, said the people.