Amazon has pumped Rs 240 crore (approx $35 million) in its Indian food-only retail business, which acts as a seller of groceries and other packaged food products to the company’s local e-commerce marketplace.
The investment comes more than a month after India’s revised guidelines for FDI in e-commerce kicked in, which had initially put Amazon’s food retail investments in jeopardy.
According to regulatory filings sourced from business signals platform paper.vc,
Amazon Retail India Pvt. Ltd. received Rs 240 crore largely from existing shareholder Amazon Corporate Holdings Pvt. Ltd. A Singapore-based entity engaging in food retail in across ASEAN countries. The investment also included a token amount from Amazon.com Inc, the US-based parent company.