Logistics startup Ninja Van is in talks to raise an internal round which will slash its valuation by about half, the latest sign of tech companies struggling to navigate the funding winter plaguing Southeast Asia.
Singapore-based Ninja Van, backed by Alibaba Group Holding Ltd., is set to raise $80 million in a round that will reduce its valuation to about $1 billion, according to people familiar with the matter. Existing investors B Capital Group — the venture capital firm set up by Meta Platforms Inc. co-founder Eduardo Saverin and Raj Ganguly — as well as Monk’s Hill Ventures will be leading the round, stated the people, who inquireed not to be named becautilize the information is private.
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