Amazon announced a $XNUMX billion industry innovation fund, which will help finance companies and startups at all stages of customer satisfaction, logistics, and supply chain technology.
"We see an opportunity to look beyond our own experience and empower companies that are developing emerging technologies in customer processing, logistics and supply chain operations," the e-commerce giant said.
"We know there are companies that share our curiosity and enthusiasm for inventing. Whether our investment helps them grow or leads them to work with Amazon, or both, we are excited to help advance these technologies, as online shopping They become even more important for people looking for convenience and time savings.
The first batch of companies Amazon will fund includes Agility Robotics, which makes bipedal robots for warehouses. The company will receive $150 million from Amazon and others.
Other startups set to benefit from the program include Modjoul, which makes wearable security technology; Vimaan, which uses computer vision to manage inventory; BionicHIVE, an automated shelf stacking robotics startup; and Mantis Robotics, which is developing a tactile robotic arm.
E-commerce is expensive
News of the $XNUMX billion fund comes after Amazon CEO Andy Jassy underscored his commitment to improving the safety of the company's workers, in response to a recent study that showed its workers have Twice as likely to be injured as their competitors.
“These industries are inherently complex,” said Amazon's Alex Ceballos. "With our scale, Amazon is committed to investing in companies that will drive innovation in emerging technologies that can help improve employee experience and safety while seamlessly coexisting with the workforce across the supply chain, logistics and beyond." industries".
Spending €1bn is a drop in the bucket for Amazon, which generated almost €470bn in revenue in 2021.
But the competitive advantage of being the first to fund startups that help create efficiencies in your expanding warehouses could prove invaluable.