The Singaporean investment company Temasek and Swiss logistics giant Kuehne + Nagel signed a Memorandum of Understanding in a concerted effort to invest in start-ups that are focusing on top-class technology for taking logistics processes to the next level.
Accelerating transformation in logistics
Through synchronizing their objectives and interests, both partners pursue a very ambitious goal, as Joerg Wolle, Chairman K+N International AG emphasized on the occasion of the signing of the MoU: “This joint venture will be able to accelerate the transformation of the logistics industry,” the manager stated, setting the bar for the project quite high. Wolle went on to say: “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.”
In his statement, Tan Chong Lee, President & Head, Europe and South East Asia, Temasek remarked: “The opportunities presented by the growth of technology and its application across sectors have been an increasing focus for Temasek. We believe the collaboration will allow us to further identify and support growing companies at the forefront of technological development in the logistics industry.”
Consolidating K+N’s role as leading innovator
Seeing the upcoming pas de deux through K+N’s eyes, the pact is an additional step in the logistics giant’s ongoing efforts to push their digitalization strategy further forward, this way being in the driver’s seat when it comes to shaping the future of the logistics industry.
In their release, both enterprises substantiate their decision to join forces. The paper reads: “The joint venture is targeting investments into early stage 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 cooperation will focus particularly on the areas of big data and predictive analytics, artificial intelligence, block chain and robotics.”
It can be assumed that their going together is not just about bettering macroeconomic conditions in logistics but primarily to broaden the investment portfolio of Temasek as well as giving K+N early access to promising innovations for taking their own business and service rendered to customers to the next level.
That such corporate objectives are legitimate need not be discussed. Without them progress would be proceeding at a snail’s pace.