Teleport (formerly known as RedCargo Logistics), the newly rebranded AirAsia cargo and logistics platform, teamed up with leading venture capital firm Gobi Partners to invest USD10.6M in regional e-commerce and parcel delivery player, EasyParcel.
EasyParcel, a Malaysian homegrown courier service aggregator, is hoping to further expand their business in the four countries it has a presence in: Indonesia, Malaysia, Singapore, and Thailand.
“The funding received from Teleport and Gobi Partners is key to strengthening our footprint in those existing markets. We are grateful for the opportunity to collaborate and excited to start our journey together,” said EasyParcel Founder and CEO Clarence Leong.
With close to half a million users, EasyParcel will be leveraging on Teleport’s logistics and infrastructure capabilities which is unrivalled in the region — thanks to AirAsia’s coverage of more than 100 cities with over 10,000 flights per week, and some 1,000,000+ tonnes of cargo capacity.
“I’ve always believed AirAsia’s logistics business has a huge opportunity to be part of the social and e-commerce ecosystem. Today, we are unlocking that potential with the help of EasyParcel, making parcel delivery across Asean more accessible and inclusive for everyone,” said Tony Fernandes, CEO of AirAsia Group.
Pete Chareonwongsak, CEO of Teleport, noted that only 15% of the available cargo space is currently utilised. The collaboration with EasyParcel is a part of Teleport’s strategy to take social and e-commerce in the region to the next level.
“With our deep operational expertise, this investment will allow us to accelerate the accessibility of logistics for SMEs, while encouraging more collaboration with the region’s logistics startup community,” said Chareonwongsak.
With this announcement, Teleport and Gobi Partners officially become major shareholders and board members of EasyParcel. The series B financing announced today is funded from retained earnings, whilst Gobi Partners makes its investment through the Meranti Asean Growth Fund, a fund which seeks to invest in Asean innovation such as cloud services, e-commerce and financial technology.
EXPERIENCE ASEAN: AirAsia offers the lowest fares to over 130 destinations. Book your seats, accommodation, holiday packages and activities now at airasia.com