Investment firm Temasek Holdings is forming a joint venture to invest in early-stage firms developing logistics and supply chain technology.
Temasek is undertaking the initiative in collaboration with global freight forwarder and logistics provider Kuehne + Nagel, which announced yesterday the signing of a memorandum of understanding.
The two firms will make the investments through a 50-50 joint venture that will be set up as part of the deal.
One area of focus is the distributed data system of blockchain that has become famous due to the meteoric rise in cryptocurrency values.
Investment will also be aimed at start-ups in the fields of big data, predictive analytics, artificial intelligence and robotics.
The planned joint venture will target companies that it thinks could use their new technologies and services to transform traditional logistics business models and improve efficiency.
Mr Tan Chong Lee, Temasek's president and its head for Europe and South-east Asia, said in a statement that opportunities arising from technology's growth and industry applications "have been an increasing focus for Temasek".
Kuehne + Nagel International chairman Joerg Wolle called the tie-up "a win-win situation for all parties". It "combines Temasek's focused and long-term oriented investment strategy and expertise with Kuehne + Nagel's global logistics network and know-how", he said.
Temasek's recent tech start-up investments have included online fashion retailer Poshmark, payments firm Bill.com and augmented-reality headset developer Magic Leap.