Amazon invests in robotics solutions company BionicHIVE
Robotics solutions are becoming increasingly in demand as organizations look to automate a task and avoid disruptions that can be caused by manual labor. Over the years, there has been increased adoption of robotics solutions in different industries for a variety of use cases.
The global industrial robotics market size is forecasted to reach US$ 214.68 billion by 2030. Part of the growth is also caused by the effectiveness of the technology, especially when it comes to efficiency and cost. In the supply chain, robotics solutions can enable organizations to have seamless operations, especially in warehousing.
As such, it comes as little surprise when Amazon announced plans to invest US$1 billion in companies that develop technologies in logistics, supply chain management, and workplace safety. The announcement comes at the back of the tech giant’s recent investments in renewable energy systems as well.
Amazon’s market share for logistics in the US has gone ahead of veteran brands like FedEx and UPS, according to the Pitney Bowes Parcel Shipping Index. One of the reasons for this is Amazon’s increased adoption of emerging technologies in its logistics and fulfillment operations to automate most processes.
One company that Amazon has shown interest in is BionicHIVE. Founded by Liran Raizer and Tomer Amit, BionicHIVE supplies a fully automated autonomous robotic solution called SqUID. SqUID’s robotic fleet, powered by an AI-based algorithmic engine, is capable of floor to ceiling picking, replenishing, and putting-away — making use of existing facility infrastructure, shelving racks, and boxes.
The robotics solution adapts to the customer’s current model of operations, all the way from distribution centers to the warehouse to the delivery truck, providing a one-stop automation solution for any warehouse. Simply put, the SqUID robotics solution combines flexibility with safety and efficiency to solve customer operational challenges within a warehouse environment.
BionicHIVE has also received funding from the newly announced Amazon Industrial Innovation Fund aimed at investing in emerging technologies. According to Katherine Chen, Head of the Amazon Industrial Innovation Fund, the endowment will support emerging technologies through direct investments, designed to spur invention and solve the world’s toughest challenges across customer fulfillment operations, logistics, and supply chain solutions.
“Amazon has recognized BionicHIVE for its differentiated solution capable of optimizing safety around repeated tasks, at any height, in the supply chain workplace, and this is the kind of technology that’s pulling innovation forward.”
SqUID’s fleet of autonomous robots provides a one-stop solution that works alongside the warehouse workforce. The ability to string together and streamline multiple operations across the warehouse with robotics, orchestrated and controlled by a smart algorithmic engine, is a key differentiator. SqUID eliminates the rigid operational and financial requirements of traditional automation and requires no start-up costs.
“With Amazon’s funding and support, BionicHIVE is growing its team and operations, establishing US footprint to expand its customer base and scale go-to-market, as well as increasing R&D,” added Ilan Reingold, CEO at BionicHIVE.
BionicHIVE also received praise from Elon Musk last year after he watched a video of SqUID robots driving themselves along warehouse floors, zooming up shelves, then use suction cups to retrieve boxes and distribute them.