wordpress blog stats
Connect with us

Hi, what are you looking for?

Amazon India’s wholesale arm gets a further Rs 341 crore investment

amazon

Amazon has invested a further Rs 341 crore into its Indian subsidiary Amazon Wholesale (India), which is the B2B arm of Amazon India, reports ETtech. The investment was made in May through Singapore-based Amazon Corporate Holdings Pvt. Ltd. and Amazon Malaysia.

Earlier this week, Amazon infused an additional Rs 1680 crore into Amazon Seller Services Pvt. Ltd., as part of the $3 billion the company committed to infusing into its India unit in June last year.

This latest round of investment is the fourth tranche of funds infused into the wholesale unit over the past 12 months or so, bringing the total investment to Rs 716 crore. The earlier investments were:

Amazon Wholesale (India) was set up in 2013 and runs the company’s B2B portal AmazonBusiness.in, as well as acts as a distributor of exclusive products on Amazon India. The wholesale unit currently serves various small and medium sized businesses (SMBs) in Bangalore and Mangalore through the portal, which lists items like office products, stationery, housekeeping supplies, kitchen, health & personal care supplies and food & beverages.

Amazon’s continued focus on India

During the company’s Q1 2017 earnings call, CEO Jeff Bezos continued to be bullish on India and had also said that the India unit is the fastest growing marketplace and the company “will keep investing in technology and infrastructure while working hard to invent on behalf of our customers and small and medium businesses.”

In India, Amazon has been increasingly focusing on logistics off late:

Advertisement. Scroll to continue reading.
  • Last month, Amazon India’s logistics arm Amazon Transportation Services (ATS) had received Rs 207 crore worth of funding, which was the second tranche of funds infused into ATS in less than a year, after the Rs 67 crore it had received in September 2016.
  • While in May this year, Amazon said it is doubling its storage capacity in the country by setting up seven new fulfilment centres by the end of the current quarter (Q2 2017), with a focus of larger appliances and furniture.
  • And last year, the company had opened six fulfilment centres in Chennai, Mumbai, Delhi and Jaipur to expand its services. At the time it had mentioned that 80% of sellers in India used its fulfilment services. In all, the company has increased its fulfilment capacity for sellers by 26% this year.

Written By

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

When news that Walmart would soon accept cryptocurrency turned out to be fake, it also became a teachable moment.

News

The DSCI's guidelines are patient-centric and act as a data privacy roadmap for healthcare service providers.

News

In this excerpt from the book, the authors focus on personal data and autocracies. One in particular – Russia.  Autocracies always prioritize information control...

News

By Jai Vipra, Senior Resident Fellow at Vidhi Centre for Legal Policy The use of new technology, including facial recognition technology (FRT) by police...

News

By Stella Joseph, Prakhil Mishra, and Yash Desai The Government of India circulated proposed amendments to the Consumer Protection (E-Commerce) Rules, 2020 (“E-Commerce Rules”) which...

You May Also Like

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ