Amazon.com Inc., the world’s largest online retailer, has pumped in another Rs.1,980 crore into its Indian business, as the company increases its pace of investment at a time when local rivals Flipkart and Snapdeal are facing pressure from investors to cut losses as well as keep off Amazon from overtaking them.
Amazon Seller Services Pvt. Ltd, the Indian unit of Amazon, received Rs.1,980 crore last week, the single largest tranche of funds received by the company since 2014, according to documents filed with the Registrar of Companies. This follows another fund infusion of Rs.1,696 crore in December. Amazon India has now received Rs.7,679 crore since July 2014, when CEO Jeff Bezos promised to invest $2 billion in India.