South-east Asian logistics firm snags US$15m from Creo Capital, East Ventures

LOGISTICS startup Inteluck has raised US$15 million in a Series B round led by Creo Capital, the investment firm of Hong Kong-based New World Group.

The funding round also drew participation from East Ventures and Headline Asia, said Inteluck in a statement on Wednesday (Jan 26).

Founded in 2014, the Singapore-based Inteluck provides a marketplace to match companies with logistics providers for services such as full truckload transportation, warehouse management and freight forwarding.

The company has operations in the Philippines and Thailand, and expects to make a foray into the rest of South-east Asia. It initially started as a platform for trucking companies in the Philippines to monitor and manage their shipment and drivers in real time.

Inteluck's platform now serves about 5,000 supplier partners and over 250 companies in various industries such as telecommunications, fast-moving consumer goods, manufacturing, e-commerce and express.

Kevin Zhang, Inteluck's founder and chief executive officer, said: "Despite the fact that most businesses are hit by the epidemic and recruiting new consumers is more difficult, Inteluck has been able to increase revenues by 512 per cent in the last three years."

In March 2020, Inteluck raised more than US$5 million in a pre-Series B round from Hong Kong-based venture capital (VC) firm MindWorks Capital, Japanese VC firm Infinity Venture Partners and logistics firm Lalamove.

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• Logistics startup Inteluck snags over US$5m from MindWorks Capital, Lalamove