US-based e-tailing giant Amazon has invested Rs 915 crore ($125 million) into its Indian marketplace Amazon Seller Services. The investment was led by Singapore-based Amazon Corporate Holdings, with a token investment being made by the parent entity Amazon.com Inc, The investment will help Amazon Seller Services acquire new customers and onboard new sellers and strengthen its presence in the Indian market.
Amazon Seller Services reported Rs 5,849 crore loss in the last financial year. Yet, its parent company Amazon continues to invest in the Indian market as it sees huge growth potential in the country. Amazon has also set up a $250 million venture fund - Amazon Smbhav Venture Fund - to back start-ups and entrepreneurs.
