wordpress blog stats
Connect with us

Hi, what are you looking for?

Amazon India gets infusion of Rs 1950cr from its parent

Amazon India (Amazon Seller Services Pvt. Ltd) has received a massive infusion of Rs 1950 crore to up its e-commerce game in India a notch higher, Registrar of Companies documents showed. The development was first reported by The Economic Times. The capital came in from its parent Amazon Inc. (US) and Amazon Singapore.

The investment comes two months after Amazon infused Rs 2900 crore in Amazon India. Note that, Amazon has a total investment commitment in India of $5 billion (approx Rs 32600 crore)- $3 billion the company committed in June last year, plus $2 billion investment announced back in July 2014, which the company has already exceeded. Following are some investments:

Competition heats up for Flipkart

Its main rival, Flipkart has been too pumping in funds into different parts of its operations and trying to match up to Amazon’s funding power. In August last year, Flipkart raised funding to the tune of $2.5-2.6 billion from SoftBank’s $100 billion Vision Fund, and $1.4 billion from Microsoft, eBay and Tencent in April. In October 2017, Flipkart committed $500 million in its payments am PhonePe, which is an addition to $75 million funds infusion Flipkart had made in PhonePe since acquiring it in 2015. And then it injected Rs 961.4 crore in Instakart Services Pvt. Ltd., which operates its logistics arm eKart.

You May Also Like

News

Amazon’s operations in India should be suspended until an investigation into the company is completed, the All India Mobile Retailers Association (AIMRA), a trade...

News

The government should set up a regulatory authority to monitor and regulate e-commerce businesses in the country, and it should be empowered with due...

News

Thirty five sellers, Cloudtail one of them, accounted for two-thirds of Amazon’s sales in India, Reuters reported. The agency’s reporting reveals how Amazon used...

News

Amazon will be manufacturing its Fire TV streaming device in India, Minister for Electronics & Information Technology Ravi Shankar Prasad said on Twitter. “Delighted...

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