Amazon's Jeff Bezos invests in UK-based company Beacon

WION Web Team New Delhi, Delhi, India May 31, 2020, 11.41 PM(IST)

Jeff Bezos Photograph:( AFP )

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The company is also a supply chain finance firm and provides real-time data of cargo delivery and a market-view of global shipping costs and prices.

Amazon.com's CEO Jeff Bezos has invested in a British startup company called Beacon, which is a digital freight forwarder on Sunday. 

According to Beacon, it raised over $15 million in a Series A fundraising from many investors including Bezos' Amazon and even venture capital firm 8VC. 

Beacon has been formed two years ago by two of the former Uber technology executives. The startup venture has been backed by Uber founders Travis Kalanick and Garrett Camp, along with former Google CEO Eric Schmidt.

The company is also a supply chain finance firm and provides real-time data of cargo delivery and a market-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," CEO Fraser Robinson said in a statement.

Beacon has said that the money raised will be used as an investment in new hires, technology and market expansion.

Amazon did not immediately respond to request for comment.

(Inputs from Reuters)