Jeff Bezos' investment in digital freight forwarding and supply chain finance firm Beacon is a personal one, the U.K. start-up's CEO told CNBC Wednesday after the closing of its $15 million Series A funding round.
Beacon, based in London and founded in 2018, wants to disrupt the global shipping industry by using A.I. to find the cheapest shipping routes while offering customers supply chain financing to help cashflow. Asked about the potential for established shipping giants like DHL and Maersk to use the same technology and sharpen the competition, Robinson said he expects the industry to digitize itself.
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I disagree with bezos personally investing in an Amazon competitor. It's bad optics for any Amazon shareholder. He needs to explain this.