Amazon India announces $250 million Smbhav Venture Fund
E-commerce giant Amazon India has announced a $250 million (Rs 1,873 crore) fund to help start-ups, entrepreneurs with digitization process and technological innovations. The Venture Fund will invest in technology-led start-ups
Additionally, Amazon also plans to empower and bring around 1 million offline retailers and neighbourhood stores online on the Amazon India marketplace by 2025.
Speaking at Smbhav 2021, Amit Agarwal, Global Senior VP and Country Head, Amazon India said: “Through our initiatives, we are committed to be a catalyst and a partner in unlocking the possibilities for a Digital India, and realize the vision of an Aatmanirbhar Bharat as put forth by the Hon’ble PM.”
“The launch of Amazon Smbhav Venture Fund aims to attract best ideas and empower entrepreneurs in the country to partner in this vision. Additionally, our initiatives to on-board 1MM offline shops on Amazon India and digitally empower the North East region will accelerate the progress towards a digital and self-reliant India,” he added.
Amazon Smbhav Summit 2021 four-day virtual event is currently underway and concludes on April 18.
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