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AirAsia’s Teleport to seek US$50-US$100m in first external funding

KUALA LUMPUR/SINGAPORE (Nov 2): Teleport, AirAsia Group Bhd’s logistics venture arm, is looking to raise about US$50 million to US$100 million in a series A funding round, according to Chief Executive Officer Pete Chareonwongsak.

The transaction will mark the company’s first external funding, he told Bloomberg on Tuesday by email; Teleport was founded in 2018 with US$3 million in seed funding from AirAsia Digital, Chareonwongsak added.

Teleport is valued at US$300 million, following its recent acquisition of Malaysian online delivery platform Delivereat for US$9.8 million.

The company has a presence in Malaysia, Thailand, Indonesia, the Philippines, India, Singapore and China, according to its website.

It is set to launch its first dedicated 737-800F freighter on Wednesday, as part of its plans to further expand its fleet for its all-cargo operation, according to a press invite.

http://www.theedgemarkets.com/article/airasias-teleport-seek-us50us100m-first-external-funding

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