Amazon pumps in Rs 2,800 crore to strengthen India units

US-based e-commerce giant Amazon has invested around Rs 2,800 crore into two of its Indian business units to strengthen its foothold in the Indian market.

Amazon pumps in Rs 2,800 crore to strengthen India units - Reuters

The major chunk will be invested in Amazon Seller Services which will receive Rs 2,700 crore while the Amazon Retail unit will get Rs 100 crore.
 
The latest funds for the same have been pumped in by US-based Amazon.com along with its Singapore-based entity Amazon Corporate Holdings, according to data sourced by business intelligence platform Paper.vc, by Financial Express.
 
The latest infusion of funds takes Amazon’s total investment in India till date to Rs 25,220 crore ($3.84 billion).
 
Amazon has been expanding aggressively across India and investing heavily to take on rivals Flipkart and Paytm to maintain its dominant position in the Indian e-commerce market.
 
The company is expected to use the funds to boost its infrastructure and development of technology.

Amazon India is expected to open four fulfilment centres during the year to take its combined storage space of close to 20 million cubic feet by end of 2018.

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