Amazon Alexa Fund Invests In Startups That Partner With Alexa’s Voice Assistant Platform
The Amazon Alexa accelerator revealed nine companies they are working with. The start-ups are from across the globe. Techstars and Amazon worked together to launch the first ever Alexa Accelerator last year.
Amazon and Techstars, which also runs a separate Seattle accelerator program, invest an initial $20,000 in each company for 6 percent common stock, with potential for an additional $100,000 convertible note.
The startups that are participating here will embed Alexa. This project is part of Amazon’s Alexa Fund worth $100 million launched in 2015. It is used by the company to invest in other companies that work to innovate voice-based interaction. They have already invested in over 35 startups. Focusing on international companies, Amazon added $100 million more last year.
Alexa powers Amazon’s Echo smart devices and it can also be integrated with other third-party devices. In the first cohort, five out of nine companies raised investment even after the accelerator. They were Sensible Object, Play Impossible, Novel Effect, Pulse Labs, and Comet. This year’s participants represent diverse focuses which means we will get to see Alexa’s full potential.
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