Companies

Amazon India raises ₹915 crore from parent entities

Forum Gandhi Mumbai | Updated on May 08, 2021

It plans to set up 10 new fulfillment centers, 5 new sortation centers, nearly 200 delivery stations

Amazon India has raised ₹915 crore from its holding company, Amazon Corporate Holdings Private Limited and Amazon.com.incs Limited Company.

According to documents filed with the Registrar of Companies, on April 23, Amazon Seller Services Pvt. Ltd. (ASSPL) raised ₹915 crore against 91,49,57,723 shares and 42,277 shares allotted to, Amazon Corporate Holdings Private Limited and Amazon.com.incs Limited Company respectively. The documents were sourced from Tofler.

Since 2013, Amazon Inc. has committed to invest around $6.5 billion in its Indian operations. In the recent past, Amazon has announced the expansion of its operations network in India. It plans to set up 10 new fulfillment centers, 5 new sortation centers, nearly 200 delivery stations, and over 1,00,000 seasonal jobs to help meet customer demand.

Amazon specialises in providing marketing services and promotion activities to Amazon Web Services which enable customers to run applications on Amazon's cloud computing infrastructure.

According to a source, the funds are likely to be used for its recent commitments in India along with infrastructure development.

Recently, Amazon launched a $250 million Amazon Smbhav Venture Fund to accelerate the vision of a digitally self-reliant India; Initial focus on startups and entrepreneurs using technology to digitize SMBs, Agriculture and Healthcare. Amazon plans to on-board 1 million offline retailers and local neighbourhood shops on Amazon.in by 2025

In a recent SMB Impact Report the eCommerce giant said that it had added 1.5 lakh new sellers to Amazon.in in 2020 which included over 50,000 sellers registering in Hindi and Tamil. Amazon has over seven lakh sellers on its platform. With more than 1,10,000 sellers, Delhi has the largest number of Amazon.in sellers in the country, followed by Maharashtra (87,000) and Gujarat (79,000).

It claimed that a total of 4,152 Indian sellers surpassed ₹1 crore in sales in 2020 and the number of crorepati sellers grew 29 per cent year-on-year.

Besides, Amazon Business marketplace registered 85 percent year-on-year (YoY) growth in sales.

Amazon did not respond to BusinessLine’s query.

Published on May 08, 2021

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