TLDR:
- Amazon’s $1 billion Industrial Innovation Fund is focusing on investments in AI and robotics.
- The fund has already made 12 investments, including in companies like Mantis Robotics.
Amazon’s VC fund is expanding its focus to include AI, robotics, and the last mile of deliveries. Headed by Franziska Bossart, the fund has already made investments in companies that combine AI and robotics, such as Mantis Robotics. The fund’s goal is to drive efficiencies across Amazon’s logistics network. In addition to investments in automation, Amazon has also pledged up to $4 billion to generative AI startup Anthropic.
The investment strategy highlights Amazon’s dedication to innovation in robotics, with a particular focus on the final mile of deliveries. The fund’s increased investments in automation align with Amazon’s strategy to boost margins following heavy investments during the pandemic. Bossart emphasized that the focus of Amazon’s automation efforts is to shift repetitive and dangerous tasks to robots, rather than eliminating human roles entirely.
The acceleration of investments in automation and efficiency may provide opportunities for tech startups seeking capital. Amazon’s Industrial Innovation Fund, launched in April 2022, aims to support customer fulfillment, logistics, and supply chain innovation. The fund’s first round of investments focused on wearable technology and robotics designed to complement human activities.
As the fund continues to expand its focus on AI, robotics, and the last mile of deliveries, Amazon looks to support more promising startups scaling to solve industrial problems. Bossart expressed eagerness to support startups as they grow to address relevant industrial challenges for Amazon and beyond.
