BANGKOK, December 26, 2023 /PRNewswire/ — APX SolutionsA ThailandLogTech (LogTech)-based logistics technology startup, today announced that it has secured new funding from BAD Ventures to support the launch of its operations in Singapore And Malaysia in 2024.
The capital will also contribute to the further development of APX’s logistics platform by integrating AI and advanced analytics capabilities. The funding round, which includes participation from ORZON Ventures and WV Fund II, is expected to close in early 2024.
Rapid evolution fueling momentum
Since commencing operations in mid-2022, APX has seen immense growth, including a four- to five-fold increase in revenue to over $460,000 of his Thailand domestic services from November 2023. It successfully managed nearly 27,000 pallets, equivalent to over 18,900 tonnes of goods, through its national hub-and-spoke distribution network centered around its central distribution center in Pathum Thani province. APX currently serves more than 90 customers in the electronics, automotive, food and beverage, and other industries.
Eyes on the horizon
“We are delighted and honored to announce the incredible support of the Asian Development Bank (ADB) as we continue our mission to revolutionize the space-sharing economy in the LTL overland trucking sector (LTL),” said Uwe Dettmann, CEO of APX. “The AfDB’s unwavering commitment is a powerful support to our goal of reducing CO2 emissions by eliminating unnecessary travel and optimizing the use of truck space. We will move forward in other ASEAN countries, starting with Malaysia And Singapore“.
Paving new regional trade routes
APX aims to expand towards Singapore And Malaysia in 2024. By taking advantage that of Singapore leadership position Asia Pacific freight hub, APX aims to quickly develop a strong customer base for its cross-border and door-to-door LTL services connecting Thailand And Singapore. Singapore is the first international market that APX is making a foray into.
In MalaysiaAPX will establish national LTL trucking services in the first quarter of 2024, alongside regional operational centers in PenangJohor Bahru, Pahang and a head office in Shah Alam. The launch in Malaysia will enable APX to serve existing major cross-border customers shipping goods between Thailand And Malaysia. Long term, APX is focused on building a sustainable LTL pallet trucking network across Thailand, MalaysiaAnd Singapore.
Fostering positive change
“We are excited about the transformative impact APX brings to the logistics landscape. Their palletized model addresses the critical problem of trucking and promises substantial efficiency gains, promoting a more sustainable supply chain,” said Thitirat Sittakaradej, investment specialist at ADB Ventures. “At peak efficiency, the APX model reduces emissions by at least three times on every route. We look forward to working with APX to expand its regional impact.
Innovative systems to fuel strategic objectives
Beyond regional expansion, the new capital injection will support the advancement of APX’s proprietary logistics platform through initiatives such as integrating third-party software systems, strengthening analytics capabilities through to artificial intelligence and the refinement of customer and partner-facing platforms – such as a proprietary warehouse management system currently in development.
Delivering the future of logistics
APX’s ultimate vision is to build a transparent and sustainable LTL trucking network spanning South East Asiastarting with Thailand, MalaysiaAnd Singaporewhich provides shippers with improved efficiency, flexibility and sustainability through technology and innovation.
To learn more about APX or explore partnership opportunities, visit https://apx.group/ or follow on social media @APXSolutions.
APX Solutions is a pioneering company revolutionizing the overland trucking industry by Thailand And South East Asia. They harness the untapped potential of trucks by using a robust digital platform and physical hubs to simplify booking and management of less-than-truckload (LTL) shipments.
Their approach significantly reduces CO2 emissions, optimizes trucking operations and maximizes the use of truck space, contributing to a greener and more sustainable transportation system. APX also enables local truck owners (APX Members) to grow their businesses nationally and across Asiapromoting economic growth and creating opportunities for entrepreneurs.
Furthermore, the APX network plays a vital role in reducing logistics costs for ASEAN countries, thereby improving their competitiveness in global markets. By streamlining LTL shipping processes, APX improves efficiency and profitability in the logistics industry. In summary, APX Solutions is at the forefront of digitalizing land-based road transportation, benefiting the environment, truck owners and ASEAN’s economic growth.
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SOURCE APX Solutions