Amazon has announced that it will be investing $1 billion to improve its supply chain, fulfilment, and logistics innovation.
Amazon’s $1bn venture investment programme, called the Amazon Industrial Innovation Fund (AIIF), aims to spur and support innovation in customer fulfilment, logistics, and the supply chain. As customers increasingly shop online and look for even faster delivery, Amazon is rising to the challenge to invent new ways to raise the bar on customer and employee experience, while working with other companies focused on those fields.
“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,” Alex Ceballos Encarnacion, Amazon’s vice president of worldwide corporate development said.
“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 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.”
Amazon has a history of investing in technologies within its operations that support employees and customers, like artificial intelligence, robotics, and other cutting-edge inventions. Some past improvements include robotic arms that perform repetitive tasks, and new products in autonomous movement that can help transport larger items.
“Investing in companies that are driving the next generation of industrial innovation can have impact across communities - globally, regionally, and locally,” Bob O’Donnell, founder and chief analyst of TECHnalysis Research said.
“It’s great to see Amazon make these investments in companies in the US and around the world, as historically, ongoing investment in innovation has shown to have a positive economic impact.”
The innovation fund’s first round of investments is focused on wearable technology that enhances safety in fulfilment buildings and robotics designed to complement and coexist with people’s lives. Some of the innovations and the companies behind them include:
• Modjoul: Founded in 2016 and based in Greenville, South Carolina, Modjoul is developing wearable safety technology that enables real-time, personalised alerts and recommendations aimed at reducing injuries, most notably musculoskeletal issues.
• Vimaan: Founded in 2017 and based in Santa Clara, California, Vimaan is developing computer vision and artificial intelligence solutions engineered to improve inventory management.
• Agility Robotics: Founded in 2015 and based in Corvallis, Oregon, Agility Robotics is developing a bi-pedal walking robot, Digit, which addresses the mobility limitations of traditional robots so that machines can assist people wherever they are.
• BionicHIVE: Founded in 2014 and based in Israel, BionicHIVE is developing an autonomous robotic solution that can adapt to existing shelving racks and boxes in warehouses and is capable of floor-to-ceiling functionality.
• Mantis Robotics: Founded in 2020 and based in San Francisco, Mantis Robotics is developing a tactile robotic arm that uses sensor technology to cohesively work alongside people.
