Amazon plans to invest $1 billion in logistics and robotics companies, Retail News, ET Retail

Amazon plans to invest $1 billion in logistics and robotics companies, Retail News, ET Retail
Amazon plans to invest $1 billion in logistics and robotics companiesAmazon.com Inc. suggests it options to devote $1 billion in providers building technologies in logistics, source chain administration and basic safety, as the retailer seeks to keep an eye on new strategies that might support its main organization.

The Seattle corporation on Thursday explained it was launching the Amazon Industrial Innovation Fund, a undertaking expenditure system that will again firms “of all stages” doing the job on technological know-how to boost e-commerce shipping speeds and improve the encounter of staff in warehousing and logistics. Amazon did not specify how numerous firms it aimed to commit in, or a timeline for the method.

Alex Ceballos Encarnacion, vice president of all over the world company advancement, claimed in an Amazon web site publish that focus on organizations could get the job done with Amazon, or opt to improve on their have. “We’re psyched to support progress these systems as on the web shopping results in being even extra critical to folks who are searching for additional convenience and time price savings,” he said.

Amazon’s company progress group has a extensive keep track of file of shopping for stakes in other providers, together with various Amazon companions. The tactic lets Amazon examine new and emerging technologies, and share in the earnings from the progress that can adhere to a marriage with the gigantic retailer.

In recent years Amazon has sought to url that group’s function publicly to corporate priorities, such as investments in voice and speech recognition software program by way of the Alexa Fund, and a $2 billion fund targeting climate technology. The new fund’s concentrate on personnel encounters arrives as Amazon takes criticism from politicians and labor unions for its rapid pace of operate and significant harm premiums in some logistics facilities.