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Teleport raised US$50 million from large institutional credit investors to extend its cross-border delivery capabilities in all key Southeast Asian markets
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Teleport will use the funds to introduce additional freighters, build critical hubs in Indonesia, the Philippines and Malaysia, and invest further in technology
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The company has quadrupled its intra-Southeast Asian market share by cargo volume from 2% in 2021 to 9% as of the third quarter of 2022, and grown its e-commerce business 600% y-o-y
Teleport raised US$50 million from large institutional credit investors to finance the extension of its cross-border delivery capabilities in all key Southeast Asian markets.
The logistics venture of Capital A Berhad (formerly known as AirAsia Group Berhad), Teleport in a statement said it will use the funds to introduce 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 the region.
Since its inception in 2018, Teleport’s core focus has been on serving business-to-business customers of all sizes with air logistics solutions across Southeast Asia, supported by a unique mid-mile advantage through AirAsia Aviation’s extensive network of passenger flights.
“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,” Teleport chief executive Pete Chareonwongsak said.
“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 Q1 2023. We aim to easily connect manufacturers, exporters and e-commerce directly to any Southeast Asian market.”
Teleport has quadrupled its intra-Southeast Asia market share in terms of cargo volume from 2% in 2021 to 9% as of the third quarter of 2022, and grew its e-commerce business 600% year on year. It is also serving three of the largest marketplaces in Southeast Asia, namely Shopee, Lazada and Zalora.
Teleport said this was achieved by focusing to serve three key business segments across the 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.
Teleport is present in Malaysia, Thailand, Indonesia, the Philippines, India, Singapore and China.
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