Amazon seller services gets fresh capital infusion
May 10, 2021
Amazon Seller Services, the commercial center unit of the US-based e-tailing giant Amazon, has got a new capital mixture of ₹915 crore (approx. $125 million), records documented with the Registrar of Companies appeared.
The venture was driven by Singapore-based Amazon Corporate Holdings, with a symbolic investment being made by the parent entity Amazon.com Inc, the two of which were apportioned a joined 915 million value shares at a worth of ₹10 each.
This is the first venture Amazon has made in quite a while India commercial center unit this year, which comes in the midst of worries of faltering development in the e-commerce sector because of weak consumer sentiment and limited limitations because of the destructive second wave of the pandemic.
The speculation follows Amazon’s new declaration of setting up a $250 million endeavor reserve Amazon Smbhav Venture Fund – to back new companies and business people focusing in on digitization of small and medium-sized organizations (SMBs) in India.