Temasek and K + N creates JV for investments in logistics technology startups
Singapore headquartered investment company, Temasek, and global logistics group, Kuehne Nagel signed a memorandum of understanding to establish a joint venture to invest in technology startups.
January 15, 2018: Singapore headquartered investment company, Temasek, and global logistics group, Kuehne + Nagel signed a memorandum of understanding to establish a joint venture to invest in technology startups. The JV will look at investments globally in those companies which are developing cutting-edge technologies and services with the potential to transform traditional business models in logistics, improve efficiency and provide an enhanced value proposition for the consumers.
Dr Joerg Wolle, chairman, Kuehne + Nagel International AG said, “This JV will be able to accelerate the transformation of the logistics industry. 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.”
Dr Joerg Wolle, chairman, Kuehne + Nagel International AG said, “This JV will be able to accelerate the transformation of the logistics industry. 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.”
Tan Chong Lee, president and head, Europe and South East Asia, 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 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.”
The cooperation will focus particularly on the areas of big data and predictive analytics, artificial intelligence, blockchain and robotics.
