Singapore logistics startup Ninja Van plans to recruit 200 engineers to enhance its technology capabilities ahead of its near-term initial public offering (IPO) target in the US.
This will double the startup’s engineering workforce to 400 in the next 18 months, CEO Lai Chang Wen said in a video interview with Bloomberg.
As Southeast Asia’s e-commerce industry expands rapidly, Ninja Van plans to invest in tech and automation to spruce up its parcel delivery services.
Just this week, the logistics startup announced it raised US$578 million from investors including Alibaba Group in a Series E round.
The funds raised will be allocated towards infrastructure and technology systems that will support a sustainable long-term cost infrastructure, as well as the quality and consistency of Ninja Van’s operations.
The seven-year-old startup is said to have 61,000 workers across six countries, including 46,000 truck drivers, warehouse workers, and other operational staff.
The firm which is 40 per cent owned by European logistics company GeoPost/DPDgroup, plans to focus on its relatively new business Ninja Direct as it has “so much potential”, said Lai.
“I see so much potential in the Ninja Direct business and so much more room for growth in our core business,” he said. The CEO added that there are plans to push for an IPO within two years.
The company’s end-to-end logistics network spans Singapore, Malaysia, Indonesia, Thailand, Vietnam, and the Philippines, connecting over 1.5 million active shippers with close to 100 million recipients.
Featured Image Credit: Ninja Van