Amazon invests Rs 341cr in India’s wholesale business unit

By : |July 7, 2017 0

Amazon has infused Rs 341 crores in its Indian subsidiary, Amazon Wholesale India, the wholesale B2B arm of Amazon India. The investment comes from Singapore-based Amazon Corporate Holdings Pvt. Ltd, according to the documents filed with the Registrar of Companies.

The transaction was made in May that takes the total capital infused to Rs 756 crore, with a tranche of Rs 100 crore added in December 2016. The capital infusion will provide Amazon India more arsenal to expand infrastructure and add solutions to enhance consumer and seller experience.

Amazon, which is locked in an intense battle with local rival Flipkart, has committed investments to the tune of $5 billion into the Indian market.

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Only a day earlier, Amazon Seller Services Pvt. Ltd, the e-commerce major’s Indian arm handling seller operations, had received Rs 1,680 crore from Singapore-based Amazon Corporate Holdings Pvt. Ltd as well as the US-based parent company.

TMeanwhile, the company has also appointed Shalini Puchalapalli as director of Amazonbusiness.in– the platform operated by Amazon Wholesale- formerly headed by Kaveesh Chawla. Puchalapalli, the former CEO of Lehar Foods Private Limited, joined Amazon India in July 2016 and is the director of new initiatives at Amazon. Chawla who was the director of Amazonbusiness.in till January has moved to Category Leadership for large appliances, home and outdoor.

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