Singapore’s Ninja Van Said to Halve Valuation in Latest Round

Singapore-based logistics startup Ninja Van is reportedly negotiating an internal funding round that will significantly reduce its valuation. This development reflects the broader challenges faced by tech companies in Southeast Asia amid the ongoing funding downturn. Ninja Van, known for its innovative logistics solutions, is said to be seeking to raise funds at a valuation that is approximately half of its previous worth. This reduction in valuation underscores the difficulties that tech startups are facing in securing funding during the current economic climate. The news highlights the impact of the "funding winter" on the Southeast Asian tech ecosystem, as companies grapple with a more cautious investor sentiment and tighter market conditions. Ninja Van's situation serves as a cautionary tale for startups in the region, emphasizing the need for adaptability and strategic decision-making in navigating the evolving funding landscape.