Teleport is set to boost its cross-border delivery capabilities across key markets in Southeast Asia as it raised US$50 million in capital from large institutional credit investors.
The logistics venture of Capital A (formerly AirAsia Group Bhd) will use the funds to induct additional freighters and build strategic hubs in Indonesia, the Philippines and Malaysia. The company is also looking to invest in technology that allows anyone to ship air freight within 24 hours across Southeast Asia.
Teleport said its core focus over the last 4 years has been to provide affordable air logistics solutions across Southeast Asia, supported by a mid-mile advantage through AirAsia Aviation’s extensive network of passenger flights.
The digital freight forwarder has seen its market share in terms of intra-SEA cargo volume jump to 9 percent as of Q3 2022 from 2 percent in 2021. It also grew its e-commerce business six times year on year. Central to this growth, the company shared, was the laser focus on three business segments, including global freight forwarders looking for the widest regional network, e-commerce marketplaces seeking affordable mid-mile solutions by air, as well as consumers looking for affordable next-day international parcel delivery.
The company plans to take the lead in the next three years with an extended air network coverage as it prepares for the induction of A321F freighters set to arrive in the first quarter of next year.
“Our mission from day one is to deliver consistently better than anybody else in Southeast Asia,” 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 the perfect opportunity to build the leading cross-border logistics company in Southeast Asia,” he added.