The fund will be to invest in supply chain technology companies.
This week Amazon announced plans to invest $1 billion in companies developing supply chain technologies such as warehouse robots.
The investments will be made through a new fund known as the Amazon Industrial Innovation Fund. Amazon said that it plans to back a variety of companies ranging from early-stage startups to more established firms. The value of the investments that the online retail and technology giant will make is set to vary from company to company.
Amazon has invested and innovated substantially over the last two decades in next-generation technology in its operations. This new fund is one of the ways Amazon continues to invest, along with many other initiatives, such as the MARS and re:MARS conferences that Amazon hosts every year. The conferences bring together innovative minds in machine learning, automation, robotics, and space to share new ideas across these rapidly advancing domains.
Focus on increasing delivery speed
“We see an opportunity to look beyond our own experience and empower companies that are developing emerging technologies in customer fulfillment operations, logistics, and the supply chain,” said Alex Ceballos Encarnacion, Amazon’s vice president of worldwide corporate development. “We know there are companies out there that share our curiosity and excitement to invent. Whether our investment helps them grow or leads them to work with Amazon, or both, we’re excited to help advance these technologies as online shopping becomes even more important to people who are looking for more convenience and time savings.”
The Amazon Industrial Innovation Fund will invest in companies that imagine solutions that incrementally increase delivery speed and further improve the experience of employees working in warehousing and logistics fields.
“These industries are inherently complex,” said Ceballos. “With our scale, Amazon is committed to investing in companies that will ignite innovation in emerging technologies that can help improve employee experiences and safety while seamlessly coexisting with workforces across the supply chain, logistics, and other industries.”
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