Witzig Advisory Services, the holding company of the MORE supermarket chain, has received an investment of Rs 275 crore from Amazon and Samara Capital, a private equity firm.
As per the business intelligence platform Paper.vc, Samara, with a 51% holding in Witzig, invested a marginally higher sum than Amazon.
Amazon uses MORE stores as central hubs for its Amazon Prime grocery delivery service. The US-based online retailer allows customers to place online grocery and FMCG orders on its website and app and fulfills them quickly from nearby MORE supermarkets.
This is the first time Amazon and Samara have invested into MORE since they acquired it. Amazon and Samara bought MORE from the Aditya Birla Group in September 2018 by investing Rs 4,050 crore.
This investment comes soon after Reliance Retail acquired several of Future Group’s businesses like Big Bazaar, Easyday, and Foodhall, in a Rs 24,713 crore deal, giving the company access to 1,800 Future group stores across India.