Packer gets into cloud shopping
Takes stake in e-commerce start-up
Brisbane e-commerce and cloud-based logistics start-up Temando Shipping has received a cash injection from James Packer’s investment vehicle Ellerston Capital.
Co-founder and managing director of Temando, Carl Hartmann, created the company to take advantage of the online shopping boom.
With a digital media background at Fairfax Digital and News Corp, Hartmann built an enterprise global fulfilment engine he says can "overcome the hassle" of sending freight in e-commerce environments.
Media reports claim Ellerston Capital placed $AU5 million in the company, a figure still not confirmed by either party.
The investment will assist the company with overseas expansion plans in Asia, Europe and the United States.
Temando services ad-hoc clients to large online retailers and says it is gradually working with almost all of the top 200 freight carriers.
Ellerston Capital is headed by Crown and Consolidated Media Holdings director Ashok Jacob. Last year in May, Packer and his investment fund made its first significant move into the digital arena with the $AU80 million acquisition of online deal pioneers Gabby and Hezi Leibovich’s Catch of the Day and group buying offshoot Scoopon sites. ®
Sponsored: Network DDoS protection