This first round of funding will go towards wearable technology that increases safety in Amazon’s warehouses and robotics.
In addition to the Amazon Industrial Innovation Fund, the business also invests in and acquires companies working on technology important to its goal. For its part, Amazon announced in 2020 a $2 billion Climate Pledge Fund to assist them achieve net-zero carbon operations by 2040. Since its inception, Amazon’s climate fund has invested in 11 firms – including CarbonCure and Resilient Power – as well as TurnTide and BETA Technologies.
Amazon said the new industrial innovation fund would help improve consumer and employee experiences in warehouses and logistics. That includes robotic arms that conduct repetitive jobs and automation vehicles that can help transport heavier things.
Amazon announced five early investments in wearable tech and robotics firms. Amazon didn’t say how much they invested. Here’s a rundown of each company’s projects.