Amazon.com Inc. has shared its plans for investing the capital of $1 billion in companies that are working on developing technologies and innovations for the industries of logistics, and supply chain management as its mission. The retailer company is looking for new ideas that could be beneficial for the core business of the company, for which they have introduced the Amazon Industrial Innovation Fund.
On Thursday, Amazon launched a $1 billion fund that is entirely dedicated and focused on supply chain management, logistics and customer satisfaction. The first batch of the investment is focused on wearable technology that can help improve the security system in the fulfilment centres and robotics of amazon. The company based out of Seattle has launched Amazon Industrial Innovation Fund as a venture that will back and support companies (of all stages) that are working on new and innovative technologies to help in boosting the growth of e-commerce delivery and improve the experience of the customers as well as the workers in logistics in warehousing.
The retailer company is looking for new ideas that could be beneficial for the core business of the company.
However, Amazon has not disclosed the number or the information about the companies it aims to invest in, or even an idea about the timeline of the project. The Vice President of the worldwide corporate development, Alex Ceballos Encarnacion has shared in a blog post by Amazon that a choice of decision has been given to the target companies. They can work with the retail giant Amazon or can opt to develop their organisation on their own. While talking about the target companies who might wish to work with Amazon, Alex said that the there is a lot of excitement in the team to help the new technologies to grow, as it will help to develop the shopping experience of the customers which now has become even more crucial to people with busy lives. With the day to day run of life, the majority of the population of any region is looking for options that are convenient and time-saving as well.
The corporate development group of Amazon has bought stakes in many other companies over the years, and the list also includes some of Amazon’s partners. This strategy of becoming a part of several emerging companies helps the retail giant as a strategy to explore many emerging and innovative technologies and the share in the profits of these companies helps with the growth that can further follow a relationship with Amazon.
The majority of the population of any region is looking for options that are convenient and time-saving as well.
In the year 2020, Amazon launched a Climate Pledge Fund with $2 billion, with an aim to invest in sustainable technologies and other services that could help the company’s commitment to becoming a company with net-zero carbon in the operations by the year 2040. To date, the climate fund of Amazon has invested in 11 companies. These companies include Pachama, CMC Machinery, CarbonCure, ZeroAvia, Infinium, Redwood Materials, Rivian, TurnTide Technologies, Resilient Power, and BETA Technologies.
According to Amazon, the latest industrial innovation fund focuses on the need of the company to come up with faster solutions that can deliver goods in a shorter period of time, while it also improves the experience of the customers and the employees working with the company in the warehouses and logistics. The company also aims to utilize its previous investments in robotics and AI to bring about improvements in the operations and automation vehicles that can help to deliver larger items.