Philippines-Founded Logistics Startup Raises Nearly P2 Billion in Series C Round
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A logistics service startup founded by a Forbes 30 Under 30 honoree has announced the close of its series C round with a $34 million (just under P2 billion) investment led by private equity firm Navegar as well as existing investor East Ventures, a leading VC firm in Southeast Asia.
Inteluck, which was founded by Kevin Zhang in the Philippines in 2014, is a data-driven, end-to-end logistics solution company that leverages technology and data to support the needs of its customers. Its services include truckload transportation, warehouse management, freight forwarding, cross-border transportation and other bespoke supply chain services.
The company’s flagship offering is a one-stop supply chain service that grants clients access to a fleet of over 14,000 delivery trucks available for on-demand booking.
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Although now headquartered in Singapore, Inteluck has a strong presence in the Philippines as well as Thailand and Vietnam. Its client list includes over 300 international and local enterprises from a range of industries, including telecommunications, fast-moving consumer goods, manufacturing, e-commerce, and express delivery.
The company says it plans to use the fresh capital to “expand its regional footprint, deepen its presence, and strengthen its capabilities.”
Zhang joined join Endeavor, the global network of high-impact entrepreneurs, in September 2022. It was the only company from the Philippines in the list of 11 startups invited to join that year.
Zhang was also part of Esquire’s Most Influential People in the local startup scene in 2022.
"The Southeast Asian logistics sector, estimated at $300 billion, is undergoing a prominent shift, with emerging markets rapidly developing,” Zhang said in a statement. “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.
“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,” he added. “Simultaneously, our trucker network (supply) experiences increased utilization and profitability, creating a mutually beneficial ecosystem for all stakeholders.”
“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,” said Nori Poblador, managing partner of Navegar. “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,” added Roderick Purwana, managing partner at East Ventures. “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.”
