Teleport secures fresh pre-IPO funding to speed global growth

Teleport, the logistics arm of Capital A Berhad, has raised USD 50 million in pre-IPO capital at a valuation of USD 500 million to accelerate the global expansion of its cross-border e-commerce model. The funding comes from a subscription agreement with funds managed by HPS Investment Partners and will be used to strengthen Teleport’s balance sheet and grow its network with key partner airlines ahead of a planned public listing.

The deal values Teleport at about at USD500 million and brings the total capital raised since the company was founded in 2018 to around USD 109 million. Teleport has developed a unique asset-light model for cross-border e-commerce logistics that it plans to scale into key global markets.

Teleport’s network spans more than 290 cities across 80 countries, connecting over 50 partner airlines and enabling the company to deliver cross-border e-commerce at lower cost. Its asset-light air network, combined with technology that supports first to last-mile delivery, has helped it grow rapidly since inception.

Chief Executive Officer Pete Chareonwongsak said the investment from HPS marks a new stage in Teleport’s growth and will help the company reach high-growth e-commerce corridors between China, the rest of Asia, the Middle East and beyond. He thanked employees and partners for building the business and underscored the company’s ambition to serve customers faster and more efficiently.

Tony Fernandes, Chief Executive Officer of Capital A, said the investment validates the group’s strategy and highlights Teleport’s emergence as a leading cargo and logistics provider. He added that the updated valuation represents a significant unrealised return for Capital A and positions Teleport well for a future initial public offering.

The issuance of the redeemable convertible perpetual securities remains subject to certain conditions set out in the subscription agreement.