Amazon CEO invests in British digital freight forwarder Beacon

Amazon

Amazon’s Chief Executive Jeff Bezos has announced its latest investment in British digital freight forwarder, Beacon.

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

The digital freight forwarding company was established by two former Uber Technologies Inc executives two years ago and is also backed by Uber founders Travis Kalanick and Garrett Camp, as well as the former Google CEO Eric Schmidt.

Beacon’ logistic services include global sea, air and truck freight. The company also offer supply chain finance which provides real-time data of cargo delivery and a marketplace for global shipping costs and prices.

CEO Fraser Robinson stated: “With digitalisation accelerating globally as a result of Covid-19, we believe the future of the traditional freight forwarder is more precarious than ever.”

The company said that funds raised will be invested in new hires, technology and market expansion.