+1-888-308-5802     
Industry Categories News Contact Us

Amazon India now procures total cash infusion of USD 1 billion

Author : Ojaswita Kutepatil | Published Date : 2018-08-15 

Post having received an infusion of Rs 2,600 crore into the marketplace in May 2018, Amazon India recently announced the infusion of an additional Rs 2,700 crore by the parent firm. Post this move, Amazon’s overall infusion has successfully hit the $1 billion mark since the beginning of 2018.

Incidentally, the parent company has also injected Rs 100 crore into the food business – Amazon Retail. Amazon previously committed a total investment of $5 billion to capture the India market.

Business Today reports that the fresh capital is meant to beef up the war chest for Amazon which needs to compete against Flipkart, one of the Indian e-commerce market leaders that has fortified its business with a Walmart partnership. So far, the Seattle company has invested approximately $4 billion in its Indian operations.

Analysts have reportedly said that Amazon will be seeking to push its business aggressively during the Indian festive season in an effort to beat Flipkart in terms of market share. Recently released data indicates that Amazon had a market share of approximately 31% while Flipkart Group had a market share of over 39%.

The Seattle based company is also aiming to invest approximately $500 million in the food retail of Amazon India which is anticipated to be piloted in Pune. Analysts point out that though Amazon will be concentrating on driving the grocery market, the growth of the same is expected to be slow and the focus on electronics and fashion are predicted to keep Amazon’s customers from migrating to other platform in pursuit of these categories.

Experts claim that after Walmart, Amazon’s US-based rival announced the plan to acquire 77% stake in Flipkart, India’s largest online retailer, Amazon updated its risk factors concerning the competition in global markets. The online retail giant has been rapidly expanding the definition of retail as it has begun including physical, omni-channel and ecommerce, with its entrance to the food retail industry in India earlier in 2018.

About Author

Ojaswita Kutepatil

Ojaswita Kutepatil

Ojaswita Kutepatil, a mechanical engineer by qualification, worked as a BDE and Technical Engineer before switching her profession to content writing. Currently, she works at AlgosOnline. as an Content writer, where she pens down write-ups pertaining to the market research industry. Crafting, reading, and music are some of her other areas of interest.

She can be contacted at- [email protected] | https://twitter.com/ojaswita_k

Related News

Rubrik Inc., raises $261 million in the latest Series E funding round

Published Date: 2019-01-16         Author: Ojaswita Kutepatil

Rubrik has raised up to USD 553 million in funds so far, including the Series E round. Rubrik Inc., a data management company based in California, USA, has reportedly secured as much as US$ 261 million in Series E funding, the latest financing round of the company led by Bain Capital Ventures, a ... Read More

American Express buys Japanese restaurant booking app Pocket Concierge

Published Date: 2019-01-16         Author: Ojaswita Kutepatil

The service was reportedly launched in 2013 to help customers book quality restaurants that have months-long waiting lists for reservations.   The company currently works with more than 800 restaurants and has made available its app in English, Japanese and Chinese. U.S. card issuer... Read More

Sabio acquires Callware to expand its Workforce Optimization skills

Published Date: 2019-01-14         Author: Ojaswita Kutepatil

The acquisition follows Horizon Capital’s original investment in Sabio in 2016 and belongs to an ongoing expansion strategy to augment the company’s solutions portfolio and regional coverage. IT services management company Sabio Group has reportedly acquired Callware, Spain’s le... Read More

© 2019 Fractovia. All Rights Reserved