Reefknot investment launches $50M funds for startups of logistics and supply chain
It is thinking to introduce a think tank to operate with industry professionals and government.
Reefknot to invest in Series A- and B-stage startups in digital logistics, AI/deeptech, and trade finance.
The company appears to invest in six to eight startups internationally.
Reefknot, which is a joint business enterprise between Temasek, global logistics company Kuehne + Nagel, and Singapore’s sovereign fund, Investments proclaimed today the commencement of a $50M fund for logistics & supply chain startups. The organization is based in Singapore; however, it will look for enterprises around the globe that are elevating their Series A or B rounds.
Marc Dragon, the Managing Director, told TechCrunch that the company is going to serve as a tactical sponsor in its portfolio organizations, giving them associations with partners that include Vertex Ventures, EDBI, PSA unBoXed, Atlantic Bridge, Unilever Foundry and NUS Enterprise, SGInnovate, in addition to Kuehne + Nagel and Temasek.
According to Dragon, “Reefknot is committed to shaping this development not just by investing in high-potential startups, but also creating a community of industry experts to support and sustain this growth.”
A veteran of the supply chain & logistics industry, Dragon, says Reefknot decides to spend in around six to eight startup companies. It is particularly interested in organizations that are making use of AI or deep mind technology, trade finance, and digital logistics to resolve issues that variety from examining supply chain data, as well as making predictions to regulating the danger of economic trade transactions. Gartner’s Data displays that approximately half of worldwide supply chain enterprises will utilize AI, innovative analytics or the IoT (Internet of Things) in their jobs or operations by 2023.
What Marc Dragon Has to Say About It?
Marc Dragon says, “There is a high level of expectation from vendors that because of technology, there will be new methods to do analytics and planning, and greater visibility in terms of information and product, materials and goods flowing throughout the supply chain.”
He even mentioned, “Driven by the combination of explosive global technology developments and growth, especially in the emerging economies in Asia Pacific, companies across global value chains are increasingly reevaluating business models as well as investing in technology to optimize capture of demand as well as improve cost and operational efficiencies.”
Future Plans of Reefknot
Reefknot is also going to set up a think tank, which will operate with industry specialists and government associations on research, forums, and figuring out the modern logistics & supply chain business models, which startups can carry into fruition.