Amazon.com, on April 21, announced the launch of its “Amazon Industrial Innovation Fund,” a $1 billion venture investment program focused on developing supply chain management, customer fulfillment, logistics, and warehouse tech.
The new venture investment program will back companies working on technology to increase e-commerce delivery speeds and improve the experience of workers in warehousing and logistics, the company said in a press release.
Amazon envisions a leading role in the use of technology to improve logistics, as more consumers demand ever faster deliveries and with the supply chain crisis becoming a top concern since the pandemic.
The move comes after a wave of bad press following criticism from politicians, employees, and labor unions over the accelerated pace of work, with a high rate of injury reported in several warehouse facilities.
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