Equities Tech

Amazon shares rise as its Alexa Fund invests in prefab homebuilder

Amazon shares closed higher in the US Tuesday, amid news the tech giant’s Alexa Fund has made an investment into a US prefabricated house builder. The move follows soon after Amazon launched a range of smart items for the home and implies Jeff Bezos’ business has bigger plans for the home building sector.

Amazon shares ended the US Tuesday trading session 2.08% higher at $1,974.55. The stock is also currently in the green in out-of-hours activity.

Amazon’s home building investment

Prefabricated home builder, Plant Prefab announced a successful funding round Tuesday and said that Amazon’s Alexa Fund was among those who helped it secure $6.7 billion.

“Plant Prefab’s Series A funding included Obvious Ventures and the Amazon Alexa Fund,” the home builder said in a press release.

“The new round of funding will go toward investments in new senior hires, building the marketing and sales team, and developing Plant Prefab’s patented Plant Building System,” Plant Prefab said.

Alexa Fund added details as to why it chose the home builder as the recipient of its available funding.

“Voice has emerged as a delightful technology in the home, and there are now more than 20,000 Alexa-compatible smart home devices from 3,500 different brands,” said Paul Bernard, director of the Alexa Fund.

“Plant Prefab is a leader in home design and an emerging, innovative player in home manufacturing. We’re thrilled to support them as they make sustainable, connected homes more accessible to customers and developers,” Bernard added.

Amazon expands Whole Foods delivery locations

Separately from that news, Amazon announced late Tuesday that it had once again expanded the delivery and collection locations for its Whole Foods customers.

Whole Foods Market home deliveries are now available to Prime members in Ann Arbor, Detroit, Jacksonville, Madison, Milwaukee, Omaha, Orlando, St. Louis, Tampa and Tulsa. A grocery pickup option is also now open in three new cities including Ft. Worth, Kennesaw and Richmond.

“Prime Now delivery continues to be a hit with our customers and we’re excited to introduce the service in ten new cities plus more neighborhoods in New York and Seattle,” said Christina Minardi, Whole Foods Market Executive Vice President of Operations.

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