Jeff Bezos to invest in Beacon

Amazon.com CEO Jeff Bezos has picked British startup Beacon, a digital freight forwarder, to invest.

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

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The startup was formed by two former Uber Technologies Inc executives in 2018. It’s already backed by Uber founders Travis Kalanick and Garrett Camp, together with former Google CEO Eric Schmidt.

Beacon is additionally a supply chain finance firm that gives real-time data of cargo delivery and a marketplace view of world 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,” Beacon CEO Fraser Robinson said in a statement.

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