London-based logistics start-up backed by Amazon founder Jeff Bezos has raised £37 million to fuel expansion as global supply chains falter.
Beacon launched in 2018 and uses AI and cloud-based technology to help companies make their international supply chains more efficient.
It counted Bezos among participants in the Series B funding round, led by established investor Northstar.vc. Salesforce CEO Marc Benioff also joined the raise, which follows a $15 million Series A in early 2020.
The pandemic has wreaked havoc on global supply chains. Soaring shipping and trucking costs, alongside sharp rises in raw materials costs, have hit margins at firms large and small around the world in recent months.
Beacon, launched by former Uber executives Fraser Robinson and Dmitri Izmailov, has seen “hyper growth” in the past year as demand for its platform surges amid the ongoing disruption.
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