In April 2022, Amazon launched a $1 billion Industrial Innovation Fund (AIIF) focused on logistics, supply chain, and customer fulfilment. The focal point in this first batch of investments is wearable technology that improves safety in its fulfilment centres and robotics.
With the increase of customers shopping online, Amazon continues to push boundaries. It aims to improve the experience of customers and employees working in warehouses and logistics, and find faster ways to deliver goods.
“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 fund’s first round of initial five investments on wearable technologies and robotics are:
Agility Robotics, which is developing a bipedal walking robot to address the mobility limitations of traditional robots;
BionicHive, developing an autonomous robotic solution to adapt to existing shelving racks and boxes in warehouses;
Mantis Robotics, which is developing a tactile robotic arm that uses sensor technology to cohesively work alongside people;
Modjoul, which makes wearable safety technology;
Vimaan, which uses computer vision and artificial intelligence to improve inventory management.