Capital A’s logistics arm announces US$50m capital raise

AIR logistics solutions provider Teleport has raised new growth capital of US$50 million from “large institutional credit investors”.

Teleport is the logistics venture of Capital A, formerly known as AirAsia Group.

The company said on Wednesday (Dec 14) it intends to use the funds to induct additional freighters; build critical hubs in Indonesia, the Philippines and Malaysia; and further invest in technology.

Since the company’s inception in 2018, Teleport’s core focus has been in serving business-to-business customers across South-east Asia while leveraging on the passenger flight network of Capital A’s aviation brand, AirAsia Aviation.

Its three key client segments comprise global freight forwarders, e-commerce marketplaces and most recently, consumers seeking international next-day parcel delivery.

The company is said to have quadrupled its intra-South-east Asian market share to 9 per cent as at Q3 2022, from just 2 per cent in 2021. It has also grown its e-commerce business by six times year on year.

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Acccording to Teleport’s chief executive Pete Chareonwongsak, the company intends to extend its network of coverage by air over the next three years by inducting A321F freighters from Q1 2023.

“Today we are profitable, larger, and growing faster than pre-Covid... We aim to easily connect manufacturers, exporters and e-commerce directly to any South-east Asian market,” added Chareonwongsak.