US-based ecommerce giant Amazon has infused fresh capital to the tune of Rs 650 crore into one of its India units, Amazon Wholesale (India), according to regulatory documents.
Amazon Corporate Holdings Private Limited and Amazon.com.incs Limited have made the Rs 650 crore investment in the wholesale B2B arm of Amazon India, documents filed with the corporate affairs ministry and shared by market intelligence firm Tofler showed. The date of allotment was October 26, 2021, it added.
Amazon India did not respond to emailed queries. According to the documents, a significant share of the funds (over Rs 649.94 crore) came from Amazon Corporate Holdings Pvt Ltd. The fresh funds will provide more arsenal to Amazon in India to bolster its wholesale B2B business in India.
Amazon has been aggressively investing across various business units in India. These investments have been deployed towards expanding infrastructure and adding solutions to enhance consumer and seller experience. In October, Amazon had also infused fresh capital to the tune of Rs 1,460 crore into Amazon Seller Services – its marketplace that helps sellers to sell their products online in India and internationally.