Amazon adds funding to boost its grocery business in India
Amazon has put additional funding into its grocery business in India, as it looks to expand its inventory and combat increased competition in the country.
Amazon invests more into India grocery business
Amazon Corporate Holdings, the Singapore-based holding entity, and Amazon.com in the US have transferred funds of Rs 240 crore (or almost $35m) to the India business to help it build on key strategic areas, according to reports,
The information has come from company filings, shared by Paper.vc, a business intelligence platform.
Amazon Retail India has seen significant investment in the past, with Amazon pumping millions into the business in order to fend off competition from the likes of Flipkart, Big Basket and Grofers. The business has also made commitments in the past to its investment in the country.
The competition is tight between the major online grocery brands in India, with each linking to major tech and retail investment. Walmart took Flipkart as its bet, while Alibaba has invested in Big Basket and Softbank in Grofers.
E-commerce brands in India could be facing tougher regulation ahead, however, which is projected to stifle the huge growth in the industry.