Amazon has a new billion dollar venture capital fund to invest in companies working in the customer satisfaction, logistics and supply chain sectors. It’s new Amazon Industry Innovation Fund comes amid record venture capital investments in the shipping and logistics management space prompted by tangled global supply chains.
“We see an opportunity to look beyond our own experience and empower companies that are developing emerging technologies in customer processing operations, logistics and supply chain,” wrote Alex Ceballos Encarnacion, vice -President of Global Business Development of Amazon. a blog post. “We know there are companies out there that share our curiosity and enthusiasm 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 for people looking for convenience and time saving.
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Amazon said its new fund will focus on companies at all stages, from early-stage startups to more established companies. The Seattle-based e-commerce giant is interested in companies in the broad field of operations, logistics and supply chain management, which it says could include those working on robotics, AI , machine learning and autonomy.
So far, three of its initial investments from the new fund have gone to startups working on warehouse robotics:
- Robotics Agilitythe Albany, Oregon-based maker of a two-pedal walking robot called Digit that works alongside warehouse workers.
- BionicHIVan Israeli company working on autonomous robotics for warehouses.
- Mantis Roboticsa San Francisco-based startup developing a tactile robotic arm that uses sensor technology to work alongside people in warehouses.
Amazon said it also invested in wearable technology and an artificial intelligence company:
- Modjoula Greenville, South Carolina-based startup that makes wearable safety technology aimed at reducing workplace injuries.
- vimaana Santa Clara, California-based company that develops computer vision and artificial intelligence technologies to improve inventory management.
The size of the checks it draws from the new fund will vary, Amazon said. He also did not specify how many companies he intended to invest in.
Venture Capital Backed Supply Chain Management Companies raised a record $11.3 billion worldwide last yearaccording to Crunchbase data, nearly double the 2020 figure.
Drawing: Dom Guzman
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