Tuesday, December 6, 2022

Amazon Backs Israeli Autonomous Robot Maker BionicHIVE

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Amazon has invested in Israeli robotics company BionicHIVE, the developer of a fully automated autonomous robotic solution called SqUID. An AI-based algorithmic engine enables SqUID’s robotic fleet to pick, replenish, and put away products from floor to ceiling. It adapts to the customer‘s current model of operations throughout the distribution centers, the warehouse, and up to the delivery vehicle, providing a one-stop automation solution for any warehouse.

BionicHIVE, Founded in 2014, is one of the several companies set to benefit from the newly announced Amazon Industrial Innovation Fund of up to $1 billion aimed at investing in emerging technologies.

“With Amazon’s funding and support, BionicHIVE is growing its team and operations, establishing a footprint to expand its customer base and scale go-to-market, as well as increasing R&D,” said Ilan Reingold, CEO of 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.”

Among BionicHIVE, other companies that develop emerging technologies in customer fulfillment operations, logistics, and supply chain, and are set to benefit from the funding are Modjoul, Vimaan, Agility Robotics and Mantis Robotics all based in the US.

“Investing in companies that are driving the next generation of industrial innovation can have impact across communities—globally, regionally, and locally,” said Bob O’Donnell, founder and chief analyst of TECHnalysis Research.

Throughout its history, Amazon has invested in technologies that benefit employees and customers, including artificial intelligence, robotics, and other leading-edge innovations. Some past improvements have included robotic arms that perform repetitive tasks and new inventions in autonomous movement that can help transport larger items.

“We see an opportunity to look beyond our own experience and empower companies that are developing emerging technologies in customer fulfillment operations, logistics, and the supply chain,” said Alex Ceballos Encarnacion, Amazon’s vice president of worldwide corporate development.

None of the investment amounts were disclosed.

Samuel Nyiro
Samuel Nyiro
Samuel is a staff writer at Peres Daily and Israel Now News. He focuses on the big picture by sifting through the web to make sense of the ever-growing information. If he isn't racking his brain to produce the next article, he is getting his hands 'dirty' in Blender.