Amazon is creating a US$1bn (£769m) venture investment programme called the Amazon Industrial Innovation Fund (AIIF) to support innovation in customer fulfilment, logistics, and the supply chain.
The e-commerce firm has previously invested in wearable technology that enhances safety in fulfilment buildings, autonomous robotics solutions that can adapt to shelving racks and computer vision systems to improve inventory management.
“We see an opportunity to look beyond our own experience and empower companies that are developing emerging technologies in customer fulfilment 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 AIIF 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.”
