First investments from the new fund focuses on wearables.

Amazon has announced plans to invest $1 billion into technologies related to supply chain, fulfillment and logistics.

The venture investment program, dubbed Amazon Industrial Innovation Fund (AIIF), will “spur and support innovation” related to robotics, machine learning, autonomy and AI.

The AIIF will invest in companies that develop solutions for increasing delivery speeds and improving workplace experiences in warehouses and logistics.

“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.

"We know there are companies out there that share our curiosity and excitement to invent. Whether our investment helps them grow or leads them to work with Amazon or both, we're excited to help advance these technologies as online shopping becomes even more important to people who are looking for more convenience and time savings."

The AIIF has already gotten involved in its first round of investments – choosing to initially focus on wearables.

South Carolina-based safety wearable developer Modjoul, Vimaan – which makes computer vision solutions for inventory management and bi-pedal robotics maker Agility Robotics were among those to have received funding from Amazon’s new investment arm.

Investment sizes will vary based on the opportunity and stage of growth, Amazon said upon announcement.