In a statement today, it said Teleport will use the funds to induct additional freighters, build critical hubs in Indonesia, the Philippines and Malaysia, and invest further in technology that allows anyone to “Teleport It” in 24 hours across SEA.

Teleport CEO Pete Chareonwongsak said the key to Teleport’s leadership in the next three years is the extension of network coverage by air with the induction of Airbus A321F freighters in the first quarter of next year. This will connect manufacturers, exporters and e-commerce easily and directly to any SEA market.

“Our mission from day one is to consistently deliver better than anybody else in SEA. We believe that if we guarantee next-day speed at an affordable cost, everyone will choose to ‘Teleport It’.

“Today we are more profitable, larger and growing faster than pre-Covid. We believe that a challenging environment is a perfect opportunity to build the leading cross-border logistics company in SEA,” he said.

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 by six times year-on-year.

It is also currently serving three of the largest online marketplaces in Southeast Asia, namely Shopee, Lazada and Zalora.