Research and Markets - Amazon to Invest in Bluetooth Company TrackR

May 03, 2016, 09:58 ET from Research and Markets

DUBLIN, May 3, 2016 /PRNewswire/ --

Amazon is ready to invest between $250,000 and $500,000 in Bluetooth technology company TrackR, according to reports this week. The e-commerce giant is keen to bolster the capabilities of Alexa, the cloud-based system that controls the Amazon Echo, and has already made a number of investments using its $100 million "Alexa Fund."

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TrackR used bluetooth technology to help track lost items. It works using a coin-sized chip, called the TrackR bravo, and an app. Users attach the chip to their phone or wallet and, if it goes missing, they can use the app to locate it in seconds. A recent market report says bluetooth beacons are teetering on the brink of ubiquity, and expects the shipment volume to grow exponentially by 2020 .

Alexa is designed to answer questions and take actions in response to simple voice queries. There has been a surge in demand for smart objects and connected consumer devices, with the trend towards IoT poised to rapidly expand in the consumer sector. In particular, the IoT chip market is estimated to grow from $4.58 billion in 2015 to $10.78 billion by 2022.

Both companies would profit from a partnership. TrackR's device would gain voice response capability, while the Amazon Echo would integrate the California-based company's tracking technology. Amazon has previously invested in companies such as The Orange Chef, which helps connect kitchen devices, and Garageio, which makes a connected garage door opener.

For further information on this topic, and a full list of all related documentation, please visit the Bluetooth section at http://www.researchandmarkets.com/rm/OIOL.

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Source: http://www.reuters.com/article/us-amazon-com-alexa-trackr-idUSKCN0XT1GB

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