Amazon Seller Services, the Indian marketplace arm has received another Rs 2,200 crore from Amazon group’s entity i.e. Singapore-based Amazon Corporate Holdings and Mauritius-based Amazon.com.inc.
The fresh funding also marked Amazon total investment in India closer to $5 billion– that the company’s boss Jeff Bezos had announced two years ago.
According to documents filed with Registrar of Companies (RoC), the fresh funding came on November 19, three months after the Seattle-based e-commerce major poured Rs 2,700 crore in its Indian marketplace business.
This is the fourth tranche for Amazon India in 2018, earlier it scooped up Rs 2,600 crore in May and Rs 1,950 crore in January.
Apart from the marketplace arm, Amazon running entities in India are: Amazon Pay, Amazon Data Services, Amazon Internet Services, Amazon Wholesale and Amazon Transportation Services.
Of late, the payments and logistics arm received Rs 220 crore and Rs 122 crore fresh capital respectively from the parent entity.
The development comes amidst Flipkart and Amazon claiming supremacy over each other to lead the Indian e-commerce market. During a recent study, both e-tailers have been equally rated in terms of GMV run rate for FY19.
However, the last fiscal became a loss-making period for both e-commerce players.
Amazon’s losses increased by 30 per cent to Rs 6,287 crore in the financial year ending on March 31, 2018. On the other hand, Flipkart e-commerce arm controlled its losses by 30 per cent, while wholesale incurs an 8.5X loss during the same period.
On the revenue front, Flipkart e-commerce arm’s revenue increased by 35.8 per cent and wholesale arm recorded a 40 per cent increase to Rs 3,060.2 crore and Rs 21,600 crore respectively.
Amazon, on the other hand, registered 57 per cent hike in its revenue to Rs 4,928 crore in FY18.
Source: Entrackr
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