Amazon will invest USD 1 billion funds to support innovation in warehouse technology

According to the latest report, Amazon set up a fund with a scale of 1 billion US dollars to provide support for supply chain and logistics technology.

Join tip3x on Telegram

The Amazon Industrial Innovation Fund focuses on developing new technologies that can increase delivery speeds and improve the experience for warehouse and logistics workers.

Moreover, the new fund is part of Amazon’s investments. In 2020, Amazon set up a $2 billion fund to invest in climate technology. It also set up the Alex Fund to invest in speech recognition and other technologies.

Some startups are backed by the new fund, such as Modjoul, which develops wearable safety technology that can protect users from physical injury by sounding alarms and providing advice. This is more suitable for warehouse workers. Some of the companies that invested in the first round were robotics startups.

(via)