Amazon Invests In Israeli Autonomous Robotics Startup BionicHIVE
Ecommerce giant Amazon has invested in Israeli robotics startup BionicHIVE, the Israeli company announced on Thursday.
BionicHIVE is the maker of SqUID, a fully automated, autonomous robotic solution that combines the intelligence and flexibility of humans with the power and efficiency of robots. The company said SqUID is the only fully-automated warehouse solution that easily adapts to the customer’s current working model of operation, using the same facilities, same boxes, and same shelving racks.
SqUID consists of a synchronized autonomous robotic fleet that has 3-dimensional movement capabilities. A high-end embedded control system and smart real-time data analysis allow BionicHIVE’s algorithmic engine to dynamically learn problems created in one warehouse and apply resolutions to all warehouses in the network.
Tesla’s Elon Musk tweeted “The robot future is coming” after watching a video of BionicHIVE’s SQUID robots using suction cups to retrieve boxes and distribute them in the warehouse.
“The robot future is coming,” declared Elon Musk after watching a video of BionicHIVE’s orange and black SqUID robots drive themselves along warehouse floors, zoom up shelves, then use suction cups to retrieve boxes and distribute them.
Amazon made the investment through their newly established Amazon Industrial Innovation Fund,
“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,” said Katherine Chen, head of the fund. “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.”
BionicHIVE was founded in 2014 by Liran Raizer and Tomer Amit. Israeli active crowdfunding platform OurCrowd invested in the company’s seed round.
“With Amazon’s funding and support, BionicHIVE is growing its team and operations, establishing a US footprint to expand its customer base and scale go-to-market, as well as increasing R&D,” said 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,” Reingold added.