Amazon Seller Services Receives Funding Of Rs 830 Cr In Indian Marketplace

Amazon Seller Services, which handles the Amazon marketplace in India, said its US parent invested Rs 830 crore in the firm.

Amazon Seller Services said it allocated 830 million equity shares to Amazon Corporate Holdings Ltd and Amazon.com.inc as part of the financial injection.

On 19  January, Amazon invested Rs 350 crore in Pay (India), the company that operates Amazon Pay. Amazon’s investment in its Indian companies this year has already surpassed Rs 1,000 crore.

The investment in the marketplace comes at a time when the US company has been investing much more in its cloud services unit, Amazon Web Services, than in its main ecommerce operation.

In June of last year, CEO Andy Jassy said that the company will invest an additional USD 15 billion in the Indian market, bringing its total investments to more than USD 26 billion by 2030.

Amazon Seller Services’ revenue increased by 3.4 per cent to Rs 22,198 crore in the fiscal year ending 31 March 2023, but its loss increased by almost one-third to Rs 4,854 crore.

Amazon let off 500 to 1,000 employees in India in 2023 as part of a global workforce decrease. It has also closed smaller operations, such as food delivery, at the time.