They may seem like odd bedfellows: UPS, a global logistics and delivery company and Fast Radius, a company pushing 3D printing, which stands to greatly reduce the number of shipments required by allowing businesses to manufacture products locally on their own.
But through its UPS Ventures arm, the company has taken a minority stake in Fast Radius, in hopes of better understanding how 3D printing – or additive manufacturing – will affect its business long-term.
“We use (the fund) to invest in knowledge capital,” explained Alan Amling, vice-president of UPS Ventures. “Looking at new business models. How do we work with companies in the start-up community to help educate us on what the next wave of solutions will be so we can get a head start?”