Amazon invests Rs 2,200 crore in Amazon India in fourth fund injection this year

By

Isabelle Crossley

Published
Dec 5, 2018

Amazon has just invested Rs 2,200 crore ($330.7 million) in Amazon India in the business’ fourth injection of funding this year. In 2018 so far, Amazon has invested more than ever before in India.

With the latest Rs 2,200 crore investment, Amazon has brought Amazon India’s total funding so far to Rs 27,290 crore with Rs 9,450 crore of that invested in 2018 alone. This is the business’ largest funding total in a calendar year thus far.

In 2016, Amazon’s head Jeff Bezos committed to invest $5 billion in Amazon India and the latest funding round brings the business closer to that goal. This also shows Bezos’ continued commitment to the Indian market.

Earlier in the year, Amazon Seller Services, Amazon’s marketplace business, invested Rs 1,950 crore in Amazon India in January, Rs 2,600 crore in May, and Rs 2,700 in August. The latest funding comes from a different section of the business- Amazon Corporate Holdings based in Singapore and Amazon.com.inc based in Mauritius. According to regulatory filings seen by ET Bureau, the funding was secured on November 19.

Outside of the US, Amazon India is Amazon’s most important market. India’s performance has a significant impact on the business’ overall financials, seen when Amazon’s chief financial officer, Brian T Olsavsky, cited the fact that Diwali fell late this year caused Amazon’s international growth to slow in the third quarter.