E-commerce company Amazon launched a fund sized up to $100m yesterday that will support companies developing technology designed around the human voice.
The Alexa Fund, named after the cloud-based voice service Amazon uses in its Amazon Echo personal assistant device, will invest in voice-based technologies that use the self-service tools kit Alexa Skills Kit or its Alexa Voice Service software.
In particular, Alexa Fund will target hardware products that could make use of the Alexa voice interface, startups building features and functionality for Alexa, and voice technology developers.
Amazon also revealed the fund’s first seven portfolio companies, all of which are based in the US, though it did not reveal the size of the individual investments.
Orange Chef is the developer of an app that connects kitchen appliances; Scout Alarm is developing connected home security devices; Garageio is working on a system that monitors the position of a user’s garage door; and Toymail is building a range of connected toys.
Dragon Innovation is working on products that help hardware developers scale their products; Mara is developing a voice-based running assistant; and Mojio is the operator of a connected car platform that had already raised more than $10m from investors including telecommunications firm Deutsche Telekom.
Amazon CEO Jeff Bezos said: “Experiences designed around the human voice will fundamentally improve the way people use technology. Since introducing Amazon Echo, we’ve heard from developers, manufacturers, and startups of all sizes who want to innovate with this new technology.
“With the Alexa Fund, we want to empower people to explore the boundaries of voice technology. We are eager to see what they come up with.”