Amazon has a cunning plan to snatch up even more of the ecommerce market
Amazon is investing heavily in emerging technologies
When you purchase through links on our site, we may earn an affiliate commission.Here’s how it works.
Amazonhas announced it will invest $1 billion in companies across the fulfilment, logistics and supply chain sectors in an effort to capitalize on emerging technologies.
“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 theecommercegiant.
“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 asonline shoppingbecomes even more important to people who are looking for more convenience and time savings.”
Thefirst batchof companies that Amazon will fund includes Agility Robotics, which makes bipedal robots for warehouses. The company will receive $150 million from Amazon and others.
Other startups set to benefit from the scheme include Modjoul, which makes wearable safety tech; Vimaan, which uses computer vision to manage inventory; BionicHIVE, an automated shelf-stacking robotics startup; and Mantis Robotics, which is developing a tactile robotarm.
Ecommerce is expensive
The news of the $1 billion fund comes after Amazon CEO Andy Jassyemphasiseda commitment to improving the safety of workers at the company, in response to arecent studythat showed its workers are twice as likely to be injured than at its competitors.
Amazon’s new role-playing game can help you build your AWS skills>Amazon will not spin out AWS, but more acquisitions incoming>Amazon is building a new data center in California
“These industries are inherently complex,” said Amazon’s Alex Ceballos. “With our scale, Amazon is committed to investing in companies that will ignite innovation in emerging technologies that can help improve employee experiences and safety while seamlessly coexisting with workforces across the supply chain, logistics, and other industries.”
Are you a pro? Subscribe to our newsletter
Sign up to the TechRadar Pro newsletter to get all the top news, opinion, features and guidance your business needs to succeed!
Spending $1 billion is a drop in the ocean for Amazon, whichgeneratedalmost $470 billion in revenue during 2021.
But the competitive edge provided by being early to fund startups that help create efficiencies in its vast warehouses could prove priceless.
Max Slater-Robins has been writing about technology for nearly a decade at various outlets, covering the rise of the technology giants, trends in enterprise and SaaS companies, and much more besides. Originally from Suffolk, he currently lives in London and likes a good night out and walks in the countryside.
Best secure file transfer solution of 2024
Best lightweight Linux distro of 2024
Don’t wait until Black Friday, this year’s best Nintendo Switch bundles are on sale now
