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Technology-driven supply chain provider Inteluck announces US$34 Million in Series C FundingBy PRNEWSWIRE
Published : Oct. 24, 2023 - 15:10
SINGAPORE, Oct. 24, 2023 /PRNewswire/ -- Inteluck, a technology-driven supply chain solution provider in Southeast Asia, is pleased to announce the successful completion of its Series C funding round, securing US$34 million in investment. The round was led by Philippines-focused private equity firm Navegar and joined by existing investor East Ventures, a leading VC firm in Southeast Asia. Favour Capital provided exclusive financial advisory services.
Founded in 2014 by Kevin Zhang, a Forbes 30 under 30 awardee, Inteluck has built a digital B2B platform that provides technology-driven supply chain services to enterprises, spanning full truckload transportation, warehouse management, international freight forwarding, distribution, and customized supply chain solutions.
Headquartered in Singapore, Inteluck has firmly established itself in the Philippines, Thailand, and Vietnam. With the fresh infusion of capital, Inteluck is set to expand its regional footprint, deepen its presence, and strengthen its capabilities.
Zhang brings a wealth of experience in logistics supply chains, IoT technology, and the Southeast Asian B2B cross-border industry. Complementing Zhang's leadership, the core team members hail from top-tier firms, bringing vital expertise to the fast-growing company.
For enterprises, Inteluck's flagship offering is a comprehensive, one-stop supply chain solution that provides access to a substantial fleet of 14,000+ delivery trucks available for on-demand booking. Through the platform, enterprises can easily expand their geographical coverage throughout the supply chain, maintain real-time oversight of shipments, and scale operations flexibly during high-demand periods.
In turn, Inteluck fundamentally empowers the backbone of Southeast Asia's underserved trucking industry - the small to mid-sized truckers. By integrating them into its platform, Inteluck not only boosts demand for first-to-mid-mile trips but also improves fleet utilization and facilitates faster payments.
Inteluck is proud to have provided supply chain services to over 300 renowned international and local enterprises from a range of industries, including telecommunications, fast-moving consumer goods, manufacturing, e-commerce, and express delivery.
"The Southeast Asian logistics sector, estimated at $300 billion, is undergoing a prominent shift, with emerging markets rapidly developing. Today, it's not just about delivery; there's now a strong focus on cost, service quality, and supplier reputation. Inteluck is at the forefront of this shift, leveraging data and technology to modernize B2B logistics for both sides-demand and supply," explained Zhang.
"By providing enterprises (demand) with access to more trucks on a single platform, along with advantages like faster dispatching, improved delivery times, and competitive pricing, we empower them to streamline operations and achieve significant cost savings. Simultaneously, our trucker network (supply) experiences increased utilization and profitability, creating a mutually beneficial ecosystem for all stakeholders," he emphasized.
Nori Poblador, Managing Partner of Navegar, remarked, "As the industry grows from increased trade, infrastructure upgrades, and the development of traditional sectors, Inteluck is well-positioned to solve the unique B2B logistics challenges of the Philippines and its neighbors. Kevin and his team have our full support during this next chapter of growth."
"Inteluck's innovative approach aligns perfectly with our vision of fostering innovations that bring productivity and efficiency through technology solutions. They leverage cutting-edge technology and data-driven platforms to revolutionize the supply chain ecosystem and deliver positive impacts to both suppliers and clients in the region. With their team capability and consistent growth, we are more than thrilled to continue our support to Inteluck by doubling down our investment," said Roderick Purwana, Managing Partner at East Ventures.
Navegar is a Manila-based private equity firm that invests capital and lends expertise to fast-growing Philippine companies, helping them scale and succeed in complex, ever-changing environments. Founded in 2013, the firm has over US$300 million in assets under management and has taken notable stakes in companies, such as TaskUs (NASDAQ: TASK), Intellicare, The Bistro Group, Royale Cold Storage, Great Deals E-commerce Corp., and Dali Discount AG. The firm is backed by global investors, including large financial services companies and developmental finance institutions. To learn more about Navegar, please visit www.navegar.com.ph.
About East Ventures
East Ventures is a pioneering and leading sector-agnostic venture capital firm. Founded in 2009, East Ventures has transformed into a holistic platform that provides multi-stage investment, from Seed to Growth stage investments, for over 300 tech companies across Southeast Asia. East Ventures was named the most consistent top-performing VC fund globally by Preqin, and the most active investor in SEA and Indonesia by various media. Moreover, East Ventures is the first venture capital firm in Indonesia to sign the Principles of Responsible Investment (PRI) supported by the United Nations (UN).
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