Amazon invests Rs 22 billion of new funds in India marketplace
This takes the overall funding of Amazon Seller Services to Rs 75 billion crore so far in this fiscal year
Published - 06-December-2018
E-commerce giant Amazon has injected Rs 22 billion of new funding into Amazon Seller Services, its marketplace unit, according to media reports. This takes the overall funding in the unit to Rs 75 billion so far in this fiscal year.
The new funding comes at a time when it is believed that Amazon India is almost on par or has outdone its domestic rivals in terms of gross sales on its platform.
However, the burn rate continues to remain at a higher level as e-commerce giants have set their aim to conquer the underpenetrated tier-II and tier-III type of markets that require a different approach.