Kuehne + Nagel venture to invest in logistics technology start-ups
January 17, 2018
Singapore-based investment company Temasek and logistics group Kuehne + Nagel have signed a memorandum of understanding to establish a joint venture to invest globally in early stage companies developing technology for logistics and supply chains.
“This joint venture will be able to accelerate the transformation of the logistics industry,” said Joerg Wolle, chairman of Kuehne + Nagel. “The cooperation combines Temasek’s focused and long-term oriented investment strategy and expertise with Kuehne + Nagel’s global logistics network and know-how, creating a win-win situation for all parties. For Kuehne + Nagel, it is both another important step in the deployment of our digitalisation approach and to shape the future of our industry.”
The joint venture is targeting investments into early stage companies that are developing technologies and services with the potential to transform traditional business models in logistics, improve efficiency and provide an enhanced value proposition for consumers. The cooperation will focus particularly on the areas of big data and predictive analytics, artificial intelligence, block chain, and robotics.
“The opportunities presented by the growth of technology and its application across sectors have been an increasing focus for Temasek,” said Tan Chong Lee, president of Temasek. “We are pleased to partner Kuehne + Nagel in this joint venture, and believe the collaboration will allow us to further identify and support growing companies at the forefront of technological development in the logistics industry.”