Amazon CEO Jeff Bezos invests in UK’s digital logistics startup Beacon

By Rahul Vaimal, Associate Editor
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Jeff Bezos, CEO of Amazon, is the richest man in the world

Amazon CEO and world’s richest man Jeff Bezos is investing in U.K. digital freight forwarding and supply chain finance organization Beacon. He will be pitching in for Series A fundraising worth $15 million for the British firm.

Logistics is a trillion-dollar industry, and Beacon wishes to serve the sector as the booking agent between importers and exporters while facilitating trade logistics and finance. Beacon already has corporate representations from Uber, Google and Amazon on its board. The firm’s chief technology officer, Mr. Pierre Martin was previously the head of software engineering for Amazon’s package and freight transport technology.

The investment from Mr. Bezos, who has been quite ambitious in investing numerous startups, would be a major lift for the company in its established purpose to be a global leader in logistics and trade finance.

Founded in 2018, Beacon is a provider of an enterprise platform designed to provide logistics and trade finance by making trade more transparent. The company’s contributions include door-to-door ocean, air and land shipping and finance loans with flexible rates, allowing companies to support smarter global supply chain services.