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Tech-driven logistics startup Inteluck Corp made it to this year’s Forbes Asia watch-list of 100 companies in the Asia-Pacific region
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Inteluck is the lone Philippine firm on the “100 to Watch” list that spotlights new and rising small companies that address real-world challenges with innovative solutions
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In January, Inteluck completed its US$15 million Series B fundraising to finance its expansion across Southeast Asia in anticipation of growth in the region
Tech-driven Philippine logistics startup Inteluck Corp has landed on this year’s Forbes Asia “100 to Watch” list in the Asia-Pacific region.
Singapore-headquartered Inteluck is the only Filipino firm in the magazine’s list that spotlights the region’s new and rising small companies that address real-world challenges with fresh and innovative solutions.
Inteluck is an e-commerce and retail firm that began with helping logistics firms track their vehicle fleets. Founded in the Philippines in 2014 by Kevin Zhang, Inteluck is on a journey to “build the most efficient logistics world,” so says its motto.
The startup supports a range of logistics platform services such as domestic full truckload transportation, warehouse management, freight forwarding, cross-border transportation, and other bespoke supply chain services.
From the Lion City, Inteluck operations radiate to other Southeast Asian countries such as its birthplace, the Philippines, and Thailand. It has offices in China and other regions as well, and plans to expand into Vietnam and Indonesia in 2023.
Chief executive Zhang said on the company’s website that Inteluck provides data-driven end to end logistics services to enterprises in Southeast Asia, maximizing logistics efficiency by leveraging technology and data and creating value for both customers and vendors.
In January this year, Inteluck completed its US$15 million Series B financing round led by Creo Capital, a Hong Kong-based investment firm under New World Group. Also participating in the round were East Ventures and Headline Asia.
Inteluck said at the time it would use the funds to expand its footprint across Southeast Asia in anticipation of tremendous growth in the region in the coming years.
According to Jumpstart, the startup raised more than US$5 million in a previous Series B round in early 2020 led by Asia investment firm MindWorks Capital, with Lalamove and Infinity Ventures participating.
During that fundraising, Zhang was quoted by Jumpstart as saying in a statement: “The biggest pain point in full truckload shipping for enterprise customers is that it is extremely challenging to optimize delivery with many dynamic variables.”
He said Inteluck’s technology enabled the company to optimize delivery processes by combining data from external sources such as road conditions and weather with real-time data collected by IoT (Internet of Things) devices across its logistics fleet.
“By regrouping scattered bookings, we are able to generate higher utilization in round trip loads and reduce waste for our customers,” Zhang said.
Clients include Coca-Cola and Nestlé, as well as companies such as Lucio C. Tan’s Asia Brewery Inc.
Forbes Asia in a press release on August 30 said it came up with the “100 to Watch” list by soliciting online submissions and inviting accelerators, incubators, SME advocacy organizations, universities, venture capitalists and others to nominate companies.
More than 650 companies vied for inclusion. Forbes Asia required that the companies are headquartered in Asia Pacific, must be private, for profit, and has no more than US$50 million annual revenue and no more than $100 million in total capitalization through August 1.
Forbes Asia also considered each company’s impact on the region or industry, its track record of strong revenue growth or ability to attract funding, promising business models or markets, and persuasive story.
