Amazon's Jeff Bezos invests in UK start-up Beacon

The start-up is already backed by Uber founders Travis Kalanick and Garrett Camp, along with former Google chief Eric Schmidt

(FILES)This file photo taken on November 28, 2019,  shows the Amazon logo at one of the company's centre in Bretigny-sur-Orge. US logistics giant Amazon announced on April 27, 2020, that it was extending until May 5, 2020, the suspension of activity at its distribution centres in France, after a court decision requiring it to assess the risks associated with the COVID-19 outbreak, caused by the novel coronavirus.
 / AFP / Thomas SAMSON
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Amazon's chief executive Jeff Bezos has picked British startup Beacon, a digital freight forwarder, for his latest investment.

Beacon said on Sunday it raised over $15 million (Dh55m) in Series A fundraising, from investors including Mr Bezos and venture capital firm 8VC.

The startup, formed by two former Uber Technologies executives two years ago, is already backed by Uber founders Travis Kalanick and Garrett Camp, along with former Google chief executive Eric Schmidt.

Beacon is also a supply chain finance firm that provides real-time data of cargo delivery and a marketplace view of global shipping costs and prices.

"With digitalisation accelerating globally as a result of Covid-19, we believe the future of the traditional freight forwarder is more precarious than ever," chief executive Fraser Robinson said in a statement.

Beacon, whose logistic services include global ocean, air and truck freight, said the funds raised will be invested in new hires, technology and market expansion.

Amazon did not immediately respond to request for comment.

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