Amazon raises $1 billion industry innovation fund

Amazon announces a $1 billion Industry Innovation Fund to invest in companies developing technology for supply chain, fulfillment and logistics

Amazon’s new fund moves to use technology to improve logistics as consumers demand faster delivery and supply chain crises arise

The fund plans to focus on companies that are speeding up logistics processing and improving the experience of warehouse and logistics workers. The first round of investment will focus on wearable technology and robotics.

Specifically, startups related to bipedal robots, autonomous robots in warehouses, and wearable belts that reduce worker injuries were selected as primary investment targets of the Amazon Fund.