Amazon Industrial Innovation Fund invests in robotics company BionicHIVE
BionicHIVE, an Israeli firm which specialises in supply chain workplace-based robotics technology, has received an undisclosed amount of funding from the newly announced Amazon Industrial Innovation Fund.
BionicHIVE has developed SqUID, a solution which can be deployed in a range of supply chain facilities utilising existing shelving racks and boxes and is capable of pick and put-away from floor to ceiling.
“The purpose of the Amazon Industrial Innovation Fund is to support emerging technologies through direct investments, designed to spur invention and solve for the world’s toughest challenges across customer fulfillment operations, logistics, and supply chain solutions,” says Katherine Chen, Head of the Amazon Industrial Innovation Fund.
“Amazon has recognised BionicHIVE for its differentiated solution capable of optimising safety around repeated tasks, at any height, in the supply chain workplace, and this is the kind of technology that’s pulling innovation forward.”
“With Amazon’s funding and support, we are growing our team and operations, establishing a US footprint to expand our customer base and scale go-to-market, as well as increasing R&D,” says Ilan Reingold, CEO at BionicHIVE.
“We couldn’t have asked for a better company whose investment is a validation of the unique approach and capabilities of our platform and whose guidance is invaluable.”
