Amazon recently invested in Plant Prefab, a California-based company that utilizes sustainable construction methods and materials “to build prefabricated custom single- and multifamily houses,” according to an article from CNBC.
The investment was made through Amazon’s Alexa Fund, which “provides up to $100 million in venture capital funding to fuel voice technology innovation,” according to the company’s website.
Plant Prefab aims to build homes quickly and lower the cost of home construction by using automated construction practices, the article says.
According to CNBC, this investment in prefabricated homes aligns with Amazon’s continued efforts to become a leader in smart home technology. In September, the company released more than a dozen smart home devices powered by Alexa, Amazon’s voice assistant, CNBC reports. Earlier this year, Amazon purchased video doorbell maker Ring for $1 billion.
The CNBC article says the smart home market is poised for growth and cites research that suggests the market could be valued at $53 billion by 2022.
“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,” Paul Bernard, director of the Alexa Fund, says in a statement. “We’re thrilled to support [Plant Prefab] as they make sustainable, connected homes more accessible to customers and developers.”
For more information on how your business can capitalize on the growing smart home market, take a look at 10 Smart Home Products to Sell in 2019.