The APX team
Thailand’s APX Logistics Solutions has secured an undisclosed amount in fresh investment from Japan’s SBI Ven Capital through its joint fund with NTU Singapore’s NTUitive and South Korea’s Kyobo Securities.
The logistics-tech startup, which expanded into Malaysia, Singapore, and Europe in 2024, is gearing up to extend its digital less-than-truckload (LTL) network into Vietnam by 2025.
The investment from SBI will provide APX with valuable expertise and industry connections, alongside support from its other investors, such as ORZON Ventures, a joint fund by Thailand’s PTT Group and 500 Global, the Asian Development Bank, and Wing Vasiksiri.
Also Read: APX wants to revolutionise logistics in SEA with ‘less-than-truckload’ innovation
“We’re on a mission to help businesses reimagine how transportation can be done in Southeast Asia with sustainability front and centre,” said Uwe Dettmann, CEO of APX Group. “We want to leverage our success and learnings in Thailand and expand to key markets across Southeast Asia, offering sustainable and seamless shipping services for businesses of all sizes.”
Founded in 2019 by Dettmann, Sorawit Tantrakulcharoen, and Sukanya Thamthada, APX provides door-to-door cargo transportation services through its network, with modern platforms for LTL and palletised cargo services. It aims to build a connected truck transport network in Thailand and the ASEAN region to improve logistic efficiency. It also reduces CO2 emissions and the number of trucks needed on the road in the long run; the system measures and tracks the emission impact within its overall network, actively making route recommendations to help reduce fuel consumption and carbon footprint.
At the core of APX’s green innovation is an AI-driven freight management system named Palli. The system uses proprietary data and algorithms to optimise truck-loading plans and coordinate the movement of assets across APX’s logistics partners in Thailand, Malaysia, Singapore, and Europe.
Also Read: APX gets ORZON’s backing to build a connected truck transport network in Thailand
APX’s customers can access solutions such as air and ocean freight management, customs clearance, warehousing and distribution, and specialised services such as fulfilment, kitting, and co-packing. Each solution is designed with sustainability in mind, aiming to reduce waste and enhance resource efficiency throughout logistics.
In July 2023, APX raised an undisclosed sum in pre-Series A funding led by ORZON Ventures.
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Image Credit: APX
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