Startups are typically known for disrupting established industries and forcing current market leaders to innovate to compete, but at least one leading forwarder said it is welcoming such disruption. Switzerland-based Kuehne + Nagel (K+N), in partnership with Singapore investment company Temasek, is creating a joint venture (JV) company to invest in logistics start-ups.
K+N and Temasek signed a memorandum of understanding to form the JV, which will invest in early-stage companies that are developing technology to transform the global supply chain. Of particular interest to the JV are emerging technologies that use big data and predictive analytics, artificial intelligence, blockchain and robotics.
K+N International chairman Joerg Wolle emphasized the need to “accelerate the transformation of the logistics industry,” adding that K+N’s involvement in the JV “is both another important step in the deployment of our digitalization approach and to shape the future of our industry.”