Amazon today announced the creation of a $1 billion venture investment program with the aim to spur innovation in three areas close to its heart: fulfillment, logistics, and the supply chain.
The Amazon Industrial Innovation Fund (AIIF) will be bankrolled using 11 days of the US giant's $33bn annual net income from 2021 (or 58 days of non-AWS annual operating income.)
Given the historic vote by New York warehouse staff to form the Amazon Labor Union, and claims by others that Amazon workers suffer higher rates of injury, the first five investments announced from the money pool may come as little surprise.
"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," said Amazon's VP of worldwide corporate development, Alex Ceballos Encarnacion. Amazon said it's interested in speaking to any companies meeting those criteria about potential funding.
Amazon didn't say what themes, if any, future funding rounds would have, nor did it say how many companies it plans to invest in, or how much individual companies will get. Also left out of the release was any mention of what portion of the $1 billion fund was handed out to each company, though Amazon did say it would be variable "based on the opportunity and stage of growth."
Along with no mention of monetary rewards, Amazon also left off any mention of obligations or expectations that may come along with its investment. Previous investments that Amazon has made have been criticized for their tone and fine print, and the lack of details coming from Amazon leave room for speculation.
We've reached out to Amazon and the AIIF funding recipients for more details, and have yet to hear back. ®
https://www.theregister.com/2022/04/21/amazon_industrial_robots/
Created by Tan KW | Aug 08, 2024
Created by Tan KW | Aug 08, 2024
Created by Tan KW | Aug 08, 2024
Created by Tan KW | Aug 08, 2024
Created by Tan KW | Aug 08, 2024
Created by Tan KW | Aug 08, 2024