Amazon launches $1 billion fund to invest in warehouse technology, customer responsiveness, and employee safety

As customers increasingly shop online and want faster delivery, Amazon continues to invent new ways to enhance the customer and employee experience, working with other companies focused on that field.

Naturally, Amazon has invested and innovated significantly over the past two decades in next-generation technology in its operations. This new Amazon Industrial Innovation Fund (AIIF) 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 conference brings together innovative minds in the fields of machine learning, automation, robotics and space to share new ideas across these rapidly growing fields.

“We see an opportunity to look beyond our own experience and empower companies that are developing emerging technologies in the world,” said Alex Ceballos Encarnacion, Amazon’s Vice President of Global Business Development. operations, logistics and supply chain.” We know there are companies that share the same curiosity and interest in inventing innovations related to our services. 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. more for those who are looking for more convenience and time saving”.

The $1 billion Amazon Industrial Innovation Fund will invest in companies finding solutions that gradually speed up delivery and further improve the safe experience of warehouse workers and logistics.

“These industries are inherently complex,” Ceballos said. “Given its size, Amazon is committed to investing in companies that will spark innovation in emerging technologies that can help improve experiences. and employee safety, while simultaneously co-existing seamlessly with the workforce in supply chain, logistics, and other industries.”

In fact, Amazon has a history of investing in technologies across its operations to support its employees and customers, like artificial intelligence, robotics, and other cutting-edge inventions. Some of the previous innovations include robotic arms that perform repetitive tasks and new products in automatic motion that can help transport larger items.

“Investing in companies that are driving the next generation of industrial innovation can have an impact on global, regional communities,” said Bob O’Donnell, founder and principal analyst at TECHnalysis Research. It’s great to see Amazon making these investments in companies in the US and around the world, because historically, continuing to invest in innovation has shown an economic impact. positive”.

In agreement, Ceballos says that is the goal. “Even as we’ve continuously improved our operations to enhance the employee experience and enhance safety through the development of new workstations with better ergonomics, they’ve been better,” says Ceballos. I hope this fund will continue to open the door for more cooperation.

The first round of investments by the Amazon Industrial Innovation Fund focuses on wearable technology that enhances safety in finished buildings and robotic technology designed to complement and coexist with life. human life. Here are details about those innovations and the companies behind them:

• Modjoul: Founded in 2016 and headquartered in Greenville, South Carolina, Modjoul is developing wearable safety technology that enables personalized, real-time alerts and recommendations for shock absorption injuries, especially musculoskeletal problems for employees.

• Vimaan: Founded in 2017 and headquartered in Santa Clara, California, Vimaan is developing computer vision and artificial intelligence solutions designed to improve inventory management.

• Agility Robotics: Founded in 2015 and headquartered in Corvallis, Oregon, Agility Robotics is developing a two-pedal walking robot, Digit, to address the mobility limitations of traditional robots. so that machines can support people anytime, anywhere.

• BionicHIVE : Founded in 2014 and based in Israel, BionicHIVE is developing an automated robotic solution that can adapt to existing racks and boxes in the warehouse and is capable of floor-to-ceiling operations. bare.

• Mantis Robotics: Founded in 2020 and headquartered in San Francisco, Mantis Robotics is developing a tactile robotic arm that uses sensor technology to engage with humans.

Amazon is launching with a goal of investing $1 billion in companies, but the size of the investment will vary depending on the opportunity and stage of growth. Amazon previously launched a $2 billion Climate Pledge Fund in 2020 to invest in sustainable technologies and services that will help the company achieve its commitment to be net zero in its operations. itself by 2040. Amazon’s climate fund has invested in 11 companies to date, including CarbonCure, CMC, Pacama, Redwood Materials, Rivian, TurnTide Technology, Technology. BETA, Ion Energy, ZeroAvia and Infinium.