Teleport, the logistics venture under Malaysia-based Capital A Berhad (formerly known as AirAsia Group Berhad), has raised new growth capital of $50 million from large institutional credit investors to extend its cross-border delivery capabilities in all key Southeast Asian markets.

In a statement on Wednesday, 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, Teleport’s core focus has been in serving business to business (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.

“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’,” said Pete Chareonwongsak, Chief Executive Officer 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 said.

According to him, key to Teleport’s leadership in the next three years is the extension of its network coverage by air with the induction of A321F freighters starting in 1Q2023.

He added that the firm aim to easily connect manufacturers, exporters and e-commerce directly to any Southeast Asian market.

Founded in 2018, Teleport is on a mission to enable everyone, from single merchants to the largest companies, to move things across Southeast Asia better than anybody else in 24 hours.

Currently, the firm is present in Malaysia, Thailand, Indonesia, Philippines, India, Singapore and China.

According to the statement, Teleport has quadrupled its intra-SEA market share in terms of cargo volume from 2 percent in 2021 to 9 percent as at the third quarter of 2022 and grew its e-commerce business six times 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.

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