Amazon’s Jeff Bezos invests in UK digital freight forwarder Beacon

Bezos

Amazon.com Inc founder and CEO Jeff Bezos has picked British start-up Beacon, a digital freight forwarder, for his latest investment.

KEY POINTS

  • Jeff Bezos invests in UK-based start-up Beacon
  • Beacon has already attracted *star* investors
  • The company offers a global logistic services include global ocean, air and truck freight

Beacon said on Sunday it raised over $15 million in Series A fundraising, from investors including Bezos and venture capital firm 8VC.

The startup, formed by two former Uber Technologies executives two years ago, is already backed by Uber founders Travis Kalanick and Garrett Camp, along with former Google CEO Eric Schmidt.

Beacon is also a supply chain finance firm that provides real-time data of cargo delivery and a marketplace view of global shipping costs and prices.

“With digitalisation accelerating globally as a result of COVID-19, we believe the future of the traditional freight forwarder is more precarious than ever,” Chief Executive Fraser Robinson said in a statement.

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Beacon, whose logistic services include global ocean, air and truck freight, said the funds raised will be invested in new hires, technology and market expansion.

Amazon did not immediately respond to request for comment.

Via our content partners at Reuters. Reporting by Maria Ponnezhath in Bengaluru. Editing by Lisa Shumaker.

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