The infusion of fresh funds is part of the $5-billion commitment made by Amazon founder Jeff Bezos for the Indian market. With this, Amazon Inc has till date invested Rs 25,220 crore ($3.84 billion).
US-based e-commerce giant Amazon Inc has infused a fresh capital of Rs 2,800 crore into two of its Indian business units. While Amazon Seller Services will receive Rs 2,700 crore, Amazon Retail will get Rs 100 crore, according to data sourced by business intelligence platform Paper.vc. Fresh funds have been put in by US-based Amazon.com along with its Singapore-based entity Amazon Corporate Holdings.
The infusion of fresh funds is part of the $5-billion commitment made by Amazon founder Jeff Bezos for the Indian market. With this, Amazon Inc has till date invested `25,220 crore ($3.84 billion).
Prior to this, in May, the company had received an investment of `2,600 crore. Also, in January, Amazon Inc had pumped in a capital of `1,950 crore and in November 2017, Amazon India had issued a paid-up capital of `17,839 crore.
Amazon has been aggressively investing in building infrastructure and expanding services in its battle against Flipkart. In April this year, Amazon India increased the storage capacity by 54% to 20 million cubic feet by launching five new warehouses, which are also known as fulfilment centres, in cities, including Gurgaon (part of Delhi-NCR), Mumbai, Kolkata, Bengaluru and Vijayawada. Till 2017, all Amazon warehouses put together had a storage capacity of 13 million cubic feet.
Amazon Seller Services’ net loss widened to `4,830.6 crore in FY17 against `3,679.9 crore in the preceding year, according to regulatory filings. Revenue from operations increased 41% to `3,128.7 crore in FY17 from `2,217.9 crore in FY16.