Teleport, the logistics venture under Capital A Berhad (formerly known as AirAsia Group Berhad), has raised new growth capital of US$50 million (approximately RM220 million) as it aims to be the leading air logistics company in Southeast Asia.
In an announcement, the Kuala-Lumpur-based Teleport said the investment came from large institutional credit investors, which will be used to extend its cross-border delivery capabilities in all key Southeast Asian markets.
Teleport said it would use the funds to induct additional freighters, build critical hubs in Indonesia, the Philippines and Malaysia, and further invest in technology that allows 24 hours across Southeast Asia.
"The regional cross-border logistics player aims for market leadership by strengthening its freighter network and expanding on-ground operations in Indonesia, the Philippines and Malaysia," it said.
Since its inception in 2018, Teleport has focused on serving B2B customers of all sizes, providing them with fast and affordable air logistics solutions across Southeast Asia, supported by its mid-mile advantage through AirAsia Aviation's extensive network of passenger flights — especially in Southeast Asia.
Next-day delivery service
"Our mission from day one is to deliver consistently better than anybody else in Southeast Asia. We believe if we guarantee the next-day speed at a cost anyone can afford, everyone will choose to ‘Teleport It’," said Pete Chareonwongsak, CEO of Teleport.
"Today we are profitable, larger, and growing faster than pre-COVID. We are battle-tested and believe a challenging environment is a perfect opportunity to build the leading cross-border logistics company in Southeast Asia," he added.
The Teleport chief noted that the 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.
Teleport also aims to easily connect manufacturers, exporters and e-commerce directly to any Southeast Asian market.
Teleport said it has quadrupled its intra-SEA market share in cargo volume from 2% in 2021 to 9% as of 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 on serving 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, Teleport said.
