Amazon CEO Jeff Bezos has recently invested in Beacon, a UK-based digital freight forwarder that also operates as a supply chain finance company. Beacon provides real-time data on cargo delivery and offers a marketplace view of global shipping costs and prices. The startup has successfully raised over $15 million in Series A fundraising, with investments from Bezos and venture capital firm 8VC. Additionally, Beacon has gained support from Uber founders Travis Kalanick and Garrett Camp, as well as former Google CEO Eric Schmidt, further solidifying its credibility in the industry.
Beacon’s services encompass global ocean, air, and truck freight, and the company recognizes the potential within the current digitalization trend that has been accelerated by the COVID-19 pandemic. Fraser Robinson, the CEO of Beacon, believes that the traditional freight forwarder is facing increasing uncertainty due to the global surge in digitalization caused by the pandemic. As a result, Beacon aims to capitalize on this opportunity and reshape the freight forwarding industry accordingly.
The funds raised from this round of investment will be primarily allocated towards expanding Beacon’s team through new hires, developing innovative technologies, and expanding its presence in the market. As of now, Amazon has not provided any specific comments regarding its investment in Beacon. However, this investment aligns with Amazon’s consistent strategy of supporting and investing in companies that contribute to its logistics and supply chain operations. As e-commerce continues to soar and the demand for efficient shipping services continues to increase, Beacon stands out with its innovative approach to freight forwarding and supply chain finance, catching the attention of industry leaders like Bezos.