Teleport has managed to raise new capital for its regional growth with US$50 million (approximately RM220 million) from large institutional credit investors.
Teleport said it will use the funds to induct additional freighters, build critical hubs in Indonesia, the Philippines, and Malaysia, and further invest in technology that allows anyone to ‘Teleport It’ in 24 hours across Southeast Asia.
Since its inception in 2018, the airfreight delivery arm of Capital A has been in serving B2B customers of all sizes with fast, affordable air logistics solutions across Southeast Asia, supported by a unique mid-mile advantage through AirAsia Aviation’s extensive network of passenger flights.
Pete Chareonwongsak, CEO of Teleport said, “Our mission from day one is to deliver consistently better than anybody else in Southeast Asia. We believe if we guarantee next-day speed at a cost anyone can afford, everyone will choose to ‘Teleport It’.
“Today we are profitable, larger, and growing faster than pre-COVID. We are battle-tested and believe a challenging environment is the perfect opportunity to build the leading cross-border logistics company in Southeast Asia,” he says.
He added, “Key to Teleport’s leadership in the next three years is the extension of our network coverage by air with the induction of A321F freighters starting in 1Q2023. We aim to easily connect manufacturers, exporters and e-commerce directly to any Southeast Asian market.”
Teleport has quadrupled its intra-SEA market share in terms of cargo volume from 2% in 2021 to 9% as at Q3 2022 and grew its e-commerce business 6x year-on-year. The logistics venture of Capital A is also currently serving three of the largest marketplaces in Southeast Asia, namely Shopee, Lazada and Zalora.
This was achieved by focusing to serve three key business segments across the Southeast Asian region – first, global freight forwarders looking for the widest regional network; second, e-commerce marketplaces seeking affordable mid-mile solutions by air, and most recently, consumers looking for affordable international next-day parcel delivery.