This year, Amazon Industrial Innovation Fund wants to ramp up investments in companies that combine artificial intelligence (AI) and Robotics as the company is seeking to drive efficiencies across its logistics network.
In 2024, the Fund will expand to also invest in transportation, including autonomous vehicles and last-mile technologies.
"we are eager to support more promising startups as they scale to solve the most relevant industrial problems for Amazon and beyond.", said Franziska Bossart, Director, Industrial Innovation Fund at Amazon, who recently joined Amazon to lead the Industrial Innovation Fund and has over 20 years of experience working in corporate venture capital and digital transformation.
Franziska has recently told the Financial Times that "generative AI holds a lot of promise for robotics and automation" and is an area "we are going to focus on this year".
Last year, the Fund made its first investment in a generative AI company, the details of which have not been disclosed.
In an interaction with the Financial Times, Franziska said that innovation fund would expand its focus this year, including by seeking to invest in companies involved in the "last mile" of deliveries, when packages arrive with customers, as well as geographically and in later- stage companies.
Early this year, Franziska told TechCrunch that she sees potential in Europe and Asia and would like the portfolio, which is largely made up of early-stage companies, to shift “a little bit” more toward investments in later-stage startups.
The Amazon industrial innovation fund has made 12 investments in total, including in Mantis Robotics, which is developing a robotic arm that uses sensors to work alongside humans.
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