Inteluck, a Southeast Asian data-driven logistics platform, announced that it had raised more than $5 million in a Series pre-B funding round backed by on-demand logistics technology platform Lalamove.
The funding round was anchored by MindWorks Capital, with participation from Infinity Venture Partners, according to the announcement.
The funding is Lalamove’s first strategic investment, while MindWorks Capital is an early investor, board member, and a major shareholder of Lalamove.
Inteluck, founded in 2014 as n IoT SaaS platform for trucking companies in the Philippines, transformed into a B2B logistics service platform from just monitoring and managing their shipment and drivers. It had amassed more than 17,000 certified trucks to become the largest trucking fleet in the Philippines.
“Our technology enables us to optimize delivery processes by combining data from external sources such as road conditions and weather with real-time data collected by IoT devices across our logistics fleet. By regrouping scattered bookings, we are able to generate higher utilization in round trip loads and reduce waste for our customers,” said Kevin Zhang, Founder & CEO of Inteluck.
The company currently has more than 100 enterprise customers spanning a variety of industries, including Coca-Cola, OPPO, Asia Brewery, as well as global manufacturers, telecom providers, and distributors.
Inteluck said it would use the proceeds of this funding round to launch an intelligent dispatch system and further expand its customer base in the Philippines. Seeing similar pain points throughout the region, the company will also plan to scale its FTL solutions to other markets within Southeast Asia.
Commenting on the investment, Lalamove founder and CEO Shing Chow said he sees a lot of synergy between Inteluck and Lalamove, both being companies using technologies and data to revolutionize logistics.
“Combining Lalamove’s expertise in last-mile delivery with Inteluck’s experience in long haul delivery, we are confident that we can optimize delivery offerings for businesses across Southeast Asia,” Chow said.