More funds for Beacon
The UK-based digital freight forwarder Beacon completed its second finance round in October. The company raised USD 50 million in a series B funding, with previous investors including Amazon founder Jeff Bezos.
The cloud-based services provider pointed out that its business model banks on a twelvefold increase in revenue over the past twelve months due to more customer demand.
Founded in 2018, London-headquartered Beacon runs a digital platform for the optimisation of supply chains. It operates in sea, air and road freight and provides visibility on payments and supply chain finance arrangements, as well as insurance, customs clearance and relevant data. Beacon has also opened a Hong Kong office as its first physical bridgehead in Asia. (sh)