Amazon this morning announced that it had set up a $1 billion industrial innovation fund to invest in supply chain, fulfillment and logistics.
... [+]to invest in supply chain, fulfillment and logistics.
A leader in the move to use robotics and automation in its warehouses since its acquisition of Kiva a decade ago, Amazon’s new fund represents a move to go even further into using technology to improve logistics as consumers demand ever faster deliveries and the supply-chain crisis has moved front and center.
“We see an opportunity to look beyond our own experience and empower companies that are developing emerging technologies in customer fulfillment operations, logistics and the supply chain,” Alex Ceballos Encarnacion, Amazon’s vice president of worldwide corporate development, wrote in a blog post.
The fund intends to focus on companies that incrementally increase delivery speed and improve the experience of warehouse and logistics workers. Ceballos said that Amazon was committed to using its scale to invest in “companies that will ignite innovation in emerging technologies.”
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