Amazon launches $1 billion venture fund

Amazon.com Inc. announced the launch of the Amazon Industrial Innovation Fund, a $1 billion venture investment program focused on the supply chain, customer fulfillment, logistics and warehouses. The first round of investments have been focused on wearable technology. Among the funding recipients are: South Carolina-based Modjoul, which is developing technology that will help the wearer avoid musculoskeletal issues; Vimaan, a California company working on artificial intelligence solutions for inventory management; and Agility Robotics, which is creating a “bi-pedal walking robot” called Digit. Amazon stock is down 7% over the past year. See: Chipotle launches $50 million venture fund

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