Inteluck Founder and CEO Kevin Zhang
Singapore-based logistics-tech company Inteluck has announced the completion of its US$15 million Series B financing round led by Creo Capital, a Hong Kong-based investment firm under New World Group.
The round also saw participation from East Ventures and Headline Asia.
Inteluck intends to utilise the funds to expand its footprint across Southeast Asia. The firm anticipates tremendous growth in the region in the coming years.
In April 2020, the startup reportedly raised more than US$5 million as part of the Series B round led by Asia investment firm MindWorks Capital, with participation from Lalamove and Infinity Ventures.
Also read: How the logistics partner can make or break the online shopping experience
Founded in 2014 by CEO Kevin Zhang, Inteluck employs data analytics to provide a logistics platform that helps customers and supplier partners optimises resources, lower logistics costs and maximise logistics efficiency.
Tapping into the US$300 billion third-party logistics (3PL) market, Inteluck’s services include full truckload transportation, warehouse management, freight forwarding, and other bespoke supply chain services.
The startup claims to have served over 250 companies across telecom, FMCG, manufacturing, e-commerce, express, and others.
Inteluck said it helps alleviate cash flow pressure for over 5,000 firms by boosting the number of orders they receive for carrier partners.
Despite pandemic headwinds, Inteluck boasts of increasing revenues by 512 per cent in the last three years.
The company has made a presence in six Southeast Asian countries, including Singapore, the Philippines, Thailand, Indonesia and Vietnam.
According to Data Bridge Market Research, the Southeast Asia third-party logistics industry is predicted to develop at a CAGR of 4.7 per cent from 2021 to 2028, with a total value of US$115.6 billion.
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Image Credit: Inteluck
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