The logistics division of Capital A, Teleport, located in Malaysia, received $50 million in expansion capital from “major institutional credit investors,” the company reported.
The new capital will be used to add more freighters to the company’s fleet, create hubs in Indonesia, Malaysia, and the Philippines, and enhance cross-border delivery capabilities in important Southeast Asian markets.
The company also plans to make more technological investments that would allow clients to transport goods anywhere in Southeast Asia within 24 hours. To assist it in doing this, it recently invested an unknown sum in Kargo Technologies, an Indonesian transportation marketplace.
CEO Pete Chareonwongsak launched Teleport in 2018 and serves as its leader. The business said that compared to pre-Covid-19 circumstances; it is profitable and expanding more quickly.
The startup’s e-commerce business in Southeast Asia has grown 6 times year over year, increasing its market share in terms of cargo volume from 2% in 2021 to 9% in the third quarter of 2022. Shopee, Lazada, and Zalora are currently served by Teleport as well.