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Amazon has been investing a slice of its massive $1 billion industrial innovation fund into logistics and supply chain startups across the US and Israel for nearly two years. And now, the fund is expanding its scope, both in where it’s investing and what it’s focusing on:
- Geography: Hello, Europe and Asia!
- Stage: Eyeing later-stage startups now.
- Transportation: Autonomous vehicles and last-mile tech.
- Technology: Humanoids and AI are on the radar.
Amazon's fund had a bit of a slow takeoff, deploying around $110 million of its $1 billion in the first year. But since spring 2023, it's been full steam ahead with investments in startups like Veo Robotics, Flymingo, CoreTigo, Rightbot, and Instock.
Why it matters: Launched back in April 2022 the fund's mission is to scout and invest in startups that can help Amazon further its business goals - speed up deliveries while providing a better customer experience. With its expanded scope, Amazon aims to not only further its business goals but also to improve the efficiency of its extensive logistics network.
Franziska Bossart, the fund’s director, said, “Technology will keep playing a significant and ever-increasing role in fulfillment centers, and we will see more and more technology adoption throughout our network, including in middle and last mile delivery, which will help us get orders to customers even faster.”
