Amazon’s $1 billion Industrial Innovation Fund is ramping up investments in companies that combine artificial intelligence (AI) and robotics. The company will focus on this area during the current year in a move to drive efficiencies across its logisticsnetwork, Franziska Bossart, head of the corporate...
Amazon’s $1 billion Industrial Innovation Fund will target new industries and geographies for 2024. “Our vision to help accelerate automation and supply chain innovation continues to be a key priority and unlock how we can better deliver for customers and improve our workplace for employees,” Franziska Bossart, the fund’s new head,...
Amazon plans to invest up to $4 billion in artificial intelligence (AI) firm Anthropic. The investment, announced Monday (Sept. 25), is part of a larger collaboration between the companies and marks the latest move by a tech giant to carve out a piece of the...
Amazon intends to invest $26 billion in India by 2030 amid increasing competition with Walmart. As Reuters reported Saturday (June 24), the company made that announcement after CEO Andy Jassy met with Indian Prime Minister Narendra Modi during his visit to the U.S. Jassy did not detail the company’s spending plan,...
Amazon said Thursday (April 21) it is launching a $1 billion venture fund to support customer fulfillment, logistics and supply chain innovation. “As customers increasingly shop online and look for even faster delivery, Amazon continues to invent new ways to raise the bar on customer...
Amazon’s launch of a $250 million venture fund focused on India is the Big Tech company’s next big step for its investment program targeting the subcontinent. The $250 million Amazon Smbhav Venture Fund will invest in startups and entrepreneurs in the areas of agriculture, healthcare...
German venture capital firm Target Global announced that it has co-founded Branded, a consumer products firm focused on acquiring and scaling Fulfillment by Amazon (FBA) companies. Target Global co-founded Branded with Pierre Poignant, a co-founder of Asian eCommerce giant Lazada, and Michael Ronen, a former...
Reliance Industries Ltd., the global conglomerate headquartered in Mumbai that owns everything from energy to textiles, retail, and telecommunications, has offered to sell a $20 billion stake in its retail division to Amazon.com Inc. Bloomberg News, citing one unnamed source with knowledge of the potential...
Britain’s Competition and Markets Authority (CMA) has fined Amazon over its failure to provide documents into its purchase of Deliveroo on time, Reuters reports. The eCommerce giant was fined 55,000 pounds, or $72,364, for the offense. Amazon purchased a 16 percent stake in the food...
