Teleport raises US$50 million to build the leading air logistics company in Southeast Asia

posted on 14th December 2022 by Eddie Saunders
Teleport raises US$50 million to build the leading air logistics company in Southeast Asia

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) from large institutional credit investors to extend its cross-border delivery capabilities in all key Southeast Asian markets.

Teleport 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 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.

Pete Chareonwongsak, CEO of Teleport said, “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’.

“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 says.

He added, “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.

“We aim to easily connect manufacturers, exporters and e-commerce directly to any Southeast Asian market.”

Teleport has quadrupled its intra-SEA market share in terms of cargo volume from 2% in 2021 to 9% as at Q3 2022 and grew its e-commerce business 6x year-on-year.