Amazon's Jeff Bezos invests in UK-based Beacon

Beacon said on Sunday it raised over $15 million in Series A fundraising, from investors including Bezos and venture capital firm 8VC.
By REUTERS
| Updated on Jun 02 2020, 12:11 AM IST
Jeff Bezos
Jeff Bezos (Jeff Bezos/Twitter)

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

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.

Reporting by Maria Ponnezhath.

Follow HT Tech for the latest tech news and reviews , also keep up with us on Twitter, Facebook, and Instagram. For our latest videos, subscribe to our YouTube channel.

First Published Date: 02 Jun, 12:11 AM IST
NEXT ARTICLE BEGINS
keep up with tech