Amazon invested Rs. 2,310 crore in in Amazon seller services, India’s marketplace entity

Amazon has been infused a fresh around Rs 2,310 crore in India marketplace entity Amazon Seller Services. The investment was routed via Singapore-based Amazon Corporate Holdings and also Mauritius-based Amazon.com.incs, documents sourced from the business intelligence platform Tofler showed as well.

In February, Amazon had pumped in Rs 2,208 crore in the capital in the entity. Amazon Seller Services has been received around Rs 3,400 crore from its US parent in October 2019.
In June last year, Amazon has injected around Rs 2,800 crore in the company. The e-commerce major infused about Rs 7,250 crore in its India marketplace in three tranches in 2018 as well.

Amazon founder and CEO Jeff Bezos, who was on a visit to India earlier this year, announced an additional $1 billion of investment in the country taking the company’s total India investment commitment to $6 billion.

Amazon

The fresh capital infusion that comes at a time when Amzon has ramped up hiring in the country to meet the surge in the consumer demand.

As coronavirus cases are surging in the country, the consumers are increasingly resorting to online shopping to meet their consumption needs as well. After e-commerce firms resumed full operations in the country, the companies registered a spike in consumer search for products as like electronic items, home appliances, the casual wear, and also other work-from-home enablers.

Akshay Prabhu, director, the customer service at AmazonIndia, had last month told that the firm estimates “the customer traffic to scale up over the next six months with the onset of Indian and global holiday seasons”. Amazon recently also concluded a seven-day sale as well. Additionally, the company has initiated programs to expand the network of sellers like ‘local shops on Amzon’ in the country amidst a rise in competition with the entry of JioMart.

 

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