A UK based startup named Beacon received millions of dollars of funding from Jeff Bezos and other angel investors. Beacon, a digital freight forwarder is also a supply chain finance firm which gathers the real-time cargo delivery data and traces it. It’s been used as a marketplace for global shipping cost and delivery chargers mainly targeting small, and big businesses. Jeff Bezos, the founder and CEO of tech giant company Amazon is famous for investing very ambitious projects. This investment round was quite an excellent achievement for Beacon because other than Bezos the startup received the funding from 8VC venture firm.
The startup received in total $15 million of financing from series A investment which includes big investors. The company was formed by two former Uber technology executives a few years ago, and it has support from Uber’s former founder Travis Kalanick and Garrett Camp. Also, former Google CEO Eric Schmidt has given support. Since the world is becoming more and more digital, the traditional way of freight forwarding is also going to need change. The CEO of Beacon Fraser Robinson said the future of conventional freight forward is more precarious than ever before.
Amazon is famous for making investments into the logistic, and related fields since the tech giant company Amazon is looking forward to dominating the e-commerce field. Amazon has already started its own delivery system by investing a considerable amount of money. Since the reliance on USPS and other third party delivery sources isn’t benefiting the company, this new investment in Beacon is also from the point of view that it would help the tech giant company in future. Beacon, the logistic service provider has air and truck freight, and this new funding the company said to be invested in acquiring technology and market expansion.