For SEA expansion, Logistics platform Inteluck raised US $15 M Series B funding

Inteluck, a Singapore-based logistics technology business, has closed a US $15 million Series B fundraising round headed by Creo Capital, a Hong Kong-based investment firm under New World Group.

East Ventures and Headline Asia also participated in the financing.

Inteluck plans to use the funding to extend its presence throughout Southeast Asia. In the future years, the company expects great development in the region.

The business is said to have secured more than $5 million in a Series B round headed by Asia investment firm MindWorks Capital, with participation from Lalamove and Infinity Ventures, in April 2020.

Inteluck, founded in 2014 by CEO Kevin Zhang, uses data analytics to deliver a logistics platform that assists customers and supply partners in optimising resources, lowering transportation costs, and increasing customer satisfaction.

Inteluck’s services include complete truckload transportation, warehouse management, freight forwarding, and other specialised supply chain services, and it taps into the $300 billion third-party logistics (3PL) sector.

The company claims to have worked with over 250 organisations in a variety of industries, including telecommunications, FMCG, manufacturing, e-commerce, express, and others.

Inteluck claims it helps over 5,000 businesses relieve cash flow strain by increasing the number of orders they get for carrier partners.

Despite pandemic challenges, Inteluck boasts of a 512 percent increase in sales over the previous three years.

Singapore, the Philippines, Thailand, Indonesia, and Vietnam are among the Southeast Asian nations where the corporation has a presence.