PETALING JAYA: Teleport, the logistics venture of AirAsia, has invested in Kargo Technologies, Indonesia’s largest trucking marketplace, in the form of convertible notes.
This acquisition was financed with Teleport’s internally generated resources.
The investment connects Kargo’s trucking network to Teleport’s infrastructure, expanding Teleport’s mid-mile capabilities beyond just air cargo. The partnership with Kargo unlocks an opportunity to combine air connectivity with trucking capabilities on the ground, leveraging strong technology and enhancing the network.
For Indonesia, in particular, given its archipaelagic geography and topography, the most effective way to connect these cities is to operate a “middle mile” service connecting both land and air. For Kargo, Teleport’s regional presence, vast network and rich data will assist it to expand its footprint rapidly across the region. The partnership will also support Teleport’s commitment to making 24-hour deliveries possible using the multi-modal routes across the archipaelago.
Kargo has over 75,000 trucks in its network and is digitalising logistics for shippers and transporters. It will use the funds from the transaction to support the company’s continued growth for end-to-end freight coverage in the B2B space and for expansion to other cities in the region in conjunction with Teleport.