1 month ago
26
Covariant presents an appealing acquisition opportunity for Amazon due to its software’s ability to provide a unified platform for managing robots from different manufacturers, enabling them to communicate and be controlled centrally read more
 "Amazon plans on diving deep into robotics, plans to take over robot software maker Covariant")
Amazon has been actively exploring ways to enhance its warehouse automation capabilities beyond its Kiva robots. In December, the Amazon Industrial Innovation Fund led a $3.2 million investment in Instock, a warehouse robotics firm. Image Credit: Reuters
Covariant, a company specializing in artificial intelligence software for industrial robots, has attracted takeover interest from Amazon, according to sources familiar with the situation, as per a Bloomberg report.
Covariant, founded in 2017, has raised $245 million from investors such as Index Ventures and Radical Ventures and was valued at $625 million in a 2023 funding round.
Amazon has a history of investing in warehouse automation, beginning with its 2012 acquisition of Kiva Systems, a company that produces robots designed to navigate warehouses, fetch products, and assist in fulfilling online orders more efficiently.
Covariant’s software is utilised by various companies, including online retailer Otto Group, logistics firm Radial, and pharmaceutical distributor McKesson Corp.
Covariant presents an appealing acquisition opportunity for Amazon due to its software’s ability to provide a unified platform for managing robots from different manufacturers, enabling them to communicate and be controlled centrally.
Brittain Ladd, a logistics industry consultant and former Amazon executive, explained that this acquisition would allow Amazon to consolidate its automation processes under one platform.
Amazon has been actively exploring ways to enhance its warehouse automation capabilities beyond its Kiva robots. In December, the Amazon Industrial Innovation Fund led a $3.2 million investment in Instock, a warehouse robotics firm.
Additionally, Amazon invested in Agility Robotics Inc. in 2022 and participated in a July investment in startup Standard Bots.
Covariant’s Chief Executive Officer, Peter Chen, co-founded the company while conducting research in electrical engineering and computer science at the University of California at Berkeley. This background in advanced research underpins Covariant’s innovative approach to AI and robotics, making it a strategic fit for Amazon’s ongoing automation initiatives.
){kind=tracking}
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
English (US) ·