ITLN: Amazon Invests $1 Billion in Logistics and Warehouse Robotics
(Image Source: Quartz)
Amazon has set up a venture program called the Amazon Industrial Innovation Fund (AIIF) to “spur supply chain, fulfillment and logistics innovations”. Specifically focused on automation and warehouse robotics, the initiative comes as a response to the shifting market landscape where consumers are seeking faster delivery and better customer experience as they shop more and more online.
While Amazon did not specify how many companies it plans to support or a timeline for the program, the announcement confirms its commitment to continue supporting companies that are developing cutting-edge technologies in the industry, regardless of their stage. “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,” said Alex Ceballo Encarnacion, Vice President of Worldwide Corporate Development.
Over the years, Amazon has built quite a track record of investing in technologies and buying stakes in other companies. “Investing in companies that are driving the next generation of industrial innovation can have an impact across communities—globally, regionally, and locally,” stated Bob O’Donnell, Founder and Chief Analyst of TECHnalysis Research. “It’s great to see Amazon make these investments in companies in the U.S. and around the world, as historically, ongoing investment in innovation has shown to have a positive economic impact.”
Source: Amazon invests $1 billion, creates Industrial Innovation Fund
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