Amazon injects a whooping Rs 1,237 crore in Amazon Seller Services

eCommerce giant Amazon has invested Rs. 1,237 crore in Amazon Seller Services and hence its the biggest infusion of capital into for Amazon's Indian flagship division.
Amazon Seller Services
eCommerce giant Amazon has invested Rs. 1,237 crore in Amazon Seller Services and hence its the biggest infusion of capital into for Amazon's Indian flagship division since their entry in the country in 2013. With this investment Amazon's total infusion into Amazon Seller Services in the past 10 months has reached to about Rs. 3000 crore.
"We are very excited by our growth and continue to invest in technology, especially mobile, infrastructure and logistics to support seller capability in order to deliver value to our customers," an Amazon India spokesperson said.
In a filing with the Registrar of Companies (RoC) last month, Amazon Seller had said it is raising the money through allotment of equity shares to its US parent company.
India is one of the fastest-growing markets for the US online retail giant. Amazon will utilise the funds in expanding its network of warehouses and data centres and beef up its online marketplace to compete better with local rivals.
Last year, Amazon's founder and chief executive Jeff Bezos had pledged to invest $2 billion in the company's India operations. The announcement had come a day after Flipkart said it had raised $1 billion from investors.
"We've never seen anything like this," Bezos had said in a statement in June 2014 while announcing the India plan. "After our first year in business, the response from customers and small and medium-sized businesses in India has far surpassed our expectations."
On Wednesday, Amazon announced the opening of its 21st fulfilment centre in India. The latest 55,000-sq ft warehouse has come up outside Pune.
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