New Delhi, January 30: Online shopping has now become a trend and also a mode of ease because you can get everything online at your doorstep. One of leading online shopping company Amazon has injected a fresh capital of 1960 crores to fight against its rival, Flipkart.
Amazon had put in Rs 8,150 crore alone in 2017-18 and the latest round is the fourth infusion since July last year. The last such infusion was in November 2017 when the US parent site put in Rs 2,900 crore, its single-biggest capital infusion into the Indian market. This will help the company to maintain its leading position in the online market.
The board of directors of Amazon Seller Services passed the resolution at their meeting on January 12, 2018. The fresh funds will provide more arsenals to Amazon.in. The company has been aggressively investing in expanding infrastructure and adding solutions to enhance consumer and seller experience.
Amazon has also increased its delivery and fulfillment centers across 13 cities to 41. Amazon Seller Services also has over 250,000 registered sellers on its platform. Competing with these giants is Paytm Mall that is trying to rope in local stores for its online-to-offline model.
Both Flipkart and Amazon are expected to battle it out in the grocery segment this year and take on Big Basket where Alibaba and Paytm Mall are set to invest.