Amazon’s Bezos invests in digital freight forwarder Beacon
(Technology) – Amazon’s CEO Jeff Bezos picked British startup Beacon for his latest investment.
The digital freight forwarder, on Sunday, announced that over $15 million has been raised by them in Series A fundraising. Investors included Amazon’s Jeff Bezos along with venture capital firm 8VC.
Beacon was formed two years ago by two ex-Uber executives and has been backed by the founders of the ride-sharing company and Google CEO Eric Schmidt.
It also doubles as a supply chain finance firm offer real-time data regarding cargo delivery and offers a marketplace view of rates of global shipping.
“With digitalisation accelerating globally as a result of COVID-19, we believe the future of the traditional freight forwarder is more precarious than ever.”
– Fraser Robinson, Beacon CEO
Beacon’s logistic services include global ocean, air and truck freight. The funds raised will go towards new hires, technology and market expansion.
(Photo syndicated via Reuters)
This story has been edited by BH staff and is published from a syndicated field.