Logo
Thursday, 28 March 2024
Monday, 01 Jun 2020 04:00 pm

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

Amazon.com Inc Chief Executive Jeff Bezos has picked British startup Beacon, a digital freight forwarder, for his latest investment.

newsImage
 

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 Inc 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,” CEO Fraser Robinson said in a statement.

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.

Read here


Neha Pandey

Aware of her elements, Neha writes the best articles across industries including electronics & semiconductors, automotive & transportation and food & beverages. Being from the finance background she has the ability to understand the dynamics of every industry and analyze the news updates to form insightful articles. Neha is an energetic person interested in music, travel, and entertainment. Since past 5 years, she written extensively on sectors like technology, finance and healthcare.


Smarter Decisions with Smart News

Smart Market News is committed to getting its readers the latest updates and insights on industries that help in making “smarter” business decisions. With insights and inputs from corporate decision makers, we bring you the stories of adopting innovative solutions and strategies that have been changing the world. Our editorial insights on products, solutions, companies, and adoption of best practices not only help in understanding the markets better, but also prove to be a complete package for your information needs.

Subscribe to our newsletter
Get the latest in your inbox weekly Sign up for the fully charged newsletter
© The News and Media Division of The Insight Partners 2024 | All Rights Reserved | Privacy Policy