Amazon has acquired New York-based, AI tech start up Body Labs, for an as yet, undisclosed fee. A report in Tech Crunch suggests the deal was worth in the $50-70 million region.
While no details from Amazon are on its PR website yet, a banner on the Body Labs website states:
“Exciting news! We’ve been acquired by Amazon. We look forward to innovating on behalf of customers. While we can’t get into the details, please reach out to email@example.com for any inquiries.”
The news follows a busy expansion period for the tech giant and signals it’s continuing to encourage consumers to make every purchase possible online.
Just last month, Amazon bought Indian fashion store, Shoppers Stop. Meanwhile, it’s Whole Foods purchase over the summer is already beginning to bear fruit for the online tech giant. Grocery sales of some $1.6 million have been achieved in a single month.
The Body Labs deal has a number of potential benefits for Amazon. The 3D start-up, founded in 2013, targets creating a 3D body models that are as close to the real thing as possible. That 3D imaging can then be used in the B2B or B2C sphere, to help power new tech, sales or both.
One of the ways in which Body Labs 3D body imaging could work for Amazon, is in the world of fashion. The tech firm has targeted a number of fashion and clothing stores in the past year or so. And, Prime members have a try-before-you-buy benefit.
But, if the 3D body imaging system powered by Body Labs tech works as well as they say it can, then there would likely be fewer returns. It could also possibly increase fashion sales too, as Echo Look’s fashion recommendations team up with the 3D body imaging capabilities.
Of course, this is all conjecture at the moment. But, it underscores the potential this latest Amazon deal opens up for the online leader.