K+N partners with Temasek to invest in supply chain start-up firms
15 / 01 / 2018
Kuehne+Nagel (K+N) has teamed up with Singapore investment firm Temasek to invest in start-up tech firms that are developing products for logistics and supply chain operations.
The joint venture is targeting investments in companies which are developing technologies and services with the potential to “transform traditional business models in logistics, improve efficiency and provide an enhanced value proposition for the consumers”, the partners said.
The co-operation will focus particularly on the areas of big data and predictive analytics, artificial intelligence, block chain and robotics.
K+N chairman Joerg Wolle said: “This joint venture will be able to accelerate the transformation of the logistics industry.
“The co-operation combines Temasek’s focused and long-term oriented investment strategy and expertise, with K+N’s global logistics network and know-how, creating a win-win situation for all parties.
“For K+N it is both another important step in the deployment of our digitalisation approach and to shape the future of our industry”.
Tan Chong Lee, president and head, Europe and South East Asia of Temasek, added: “The opportunities presented by the growth of technology and its application across sectors have been an increasing focus for Temasek.
“We are pleased to partner K+N 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.”
The state-owned company is no stranger to the transport and logistics sectors and has invested in Singapore Airlines and shipping port company PSA International. The company previously owned container shipping line APL.
Read more airfreight disruptor news