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Amazon launches $1 billion fund to invest in warehouse technologies


Robots move goods between employees and robots in the Amazon Logistics Centre.

Rolf Vennenbernd – dpa | dpa | Picture Alliance | Getty Images

AmazonThe company is creating a fund of $1 billion to support companies at all stages in the development and implementation of logistics, supply chain, fulfillment, and fulfillment technologies. announced Thursday.

Amazon’s Vice President for Worldwide Corporate Development Alex Ceballos Encarnacion stated in a blog that The Amazon Industrial Innovation Fund focuses on funding companies who are creating technology to “increase delivery time and further improve experience” of logistics workers.

Amazon is expanding its investment activity with the fund. In 2020, the company launched a $2 billion fundClimate technologies can be invested in and they operate the Alexa FundThe company has invested in speech recognition technology and other areas.

Modjoul is one of the first start-ups supported by Amazon Industrial Innovation Fund. Modjoul develops wearable safety technology to issue alerts and make recommendations that can be used to reduce injuries such as strains, sprains, and other musculoskeletal conditions.

MSDs is one of Amazon’s most popular products. most common warehouse injuriesJeff Bezos, founder of Amazon has previously saidThe company must find ways to decrease their incidence among its new employees. Amazon pledged to be “Earth’s Safest Place to Work,”It is now under increased scrutiny from advocacy groups, legislators and even employees regarding how it treats warehouse workers.

Amazon stated that three other companies were also included in the initial round of investment. They are creating robotics to “complement and coexist with human lives.”

Kiva Systems, a manufacturer of wheeled robotics for warehouses was acquired by Amazon in 2012. Amazon launched several robotic fulfillment centers to speed up the delivery of its products. It was last year that it shared detailsIt’s currently testing four robots for warehouses to decrease strenuous movement of workers.

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