Capital A Bhd’s logistic venture, Teleport, has recently earmarked a fund of US$50 million from various institutional credit investors to expand its delivery capabilities across borders in key Southeast Asian markets.
The money will be used to add more freighters and critical hubs in Indonesia, the Philippines, and Malaysia. It will also be further invested in technology enabling people to ‘Teleport It’ in 24 hours across Southeast Asia.
Teleport CEO Pete Chareonwongsak reported that they are “profitable, larger, and growing faster than pre-COVID” and envisions Teleport leading the industry with the induction of A321F freighters in this year’s first quarter.
Since 2018, Teleport has been catering to B2B clients of various sizes, providing fast, affordable air logistics solutions across the region, supported by a distinct mid-mile advantage via AirAsia Aviation’s vast network of passenger flights.
The company has increased its intra-SEA market share in cargo volume by four times in Q3 2022, while its commerce business grew 6x year-on-year.
It is also serving marketplace giants Shopee, Lazada and Zalora.
