Jeff Bezos to invest in United Kingdom logistics startup Beacon - CRN

  • Jeff Bezos to invest in United Kingdom logistics startup Beacon - CRN

Jeff Bezos to invest in United Kingdom logistics startup Beacon - CRN

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

Billionaire and founder of Amazon, Jeff Bezos has made a decision to invest in London-based start-up Beacon...

The logistics tech company raised a total of $15 million in its latest round, which was led by USA venture capital firm 8VC and included other Silicon Valley heavy-hitters like former Google CEO Eric Schmidt and Uber founder Travis Kalanick.

The business was founded by two former Uber executives - Fraser Robinson who led Uber's operations in Europe, the Middle East and Asia, and Dmitri Izmailov, formerly Uber's general manager in Russian Federation.

Beacon, which aims to make trade "simpler, more transparent and more reliable for businesses", offers air, ocean and truck freight solutions, as well as supply chain finance - all of which can be accessed and managed via its platform. The startup's Chief Technology Officer Pierre Martin was previously the head of software engineering for Amazon's package & freight transport technology, according to his LinkedIn. (NYSE: UBER) executives Fraser Robinson and Dmitri Izmailov.

Freight forwarding is a trillion-dollar global industry, and Beacon wants to act as the booking agent between importers and exporters while providing trade logistics and finance services, Sky News reported today.

Robinson has however, expressed his apprehensions about the future scenario of the industry stating that the traditional freight forwarder remains more precarious than ever. Shippers are seeking technology-led products and services that will meet their needs more effectively, enhance their experience and cut their costs.