Amazon invests Rs 240 crore in its food-only retail business

BENGALURU: 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 ecommerce marketplace.
The investment comes more than a month after India’s revised guidelines for FDI in ecommerce 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 received Rs 240 crore largely from existing shareholder Amazon Corporate Holdings, a Singapore-based entity engaging in food retail across ASEAN countries. The investment also included a token amount from Amazon.com, the US-based parent company.