Jeff Bezos invested in popular U.K. based supply chain finance firm Beacon. The firm recently announced this. Beacon has successfully impressed Jeff Bezos and he wants to invest in it. He has seen potential in Beacon.
Amazon CEO and world’s richest man is actively participating in a fundraising round for British startup called Beacon. Bezos invested $15millions in the British based startup.
Beacon is working in the field of Freight forwarding. Freight forwarding has a very large market cap and it is a trillion dollar industry. Beacon acts as bridge between importers and exporters. It also provides services like trade logistics and finance with the help of AI, search optimization, data science, cloud and automation technologies.
Beacon was founded in 2018. Beacon claimed to have executives from Uber, Google and Amazon as its investors. Chief technology officer of Beacon, Pierre Martin previously worked for Amazon. He used to be the head of software engineering for Amazon’s package and freight transport technology.
“The traditional freight forwarder model remains surprisingly analogue, using systems and processes that are slow and inefficient, with opaque pricing and limited use of technology,” Beacon CEO Fraser Robinson said in a press release Monday.
“Our goal is to disrupt the trillion-dollar freight forwarder market by vastly improving the experience for importers and exporters with a more transparent and smarter shipping product.”
- China markets extend losses, Shenzhen stocks dive 5% - July 24, 2020
- Jeff Bezos is buying a stake in UK digital supply chain startup Beacon - June 17, 2020
- Stocks are making Unbelievable Moves in the Premarket - June 17, 2020