Amazon Wholesale India, which operates Amazonbusiness.in, says it will use a $52.6 million cash infusion from Amazon Corporate Holdings to expand product selection and upgrade its e-commerce site.
Amazon Wholesale India Pvt. Ltd, a business-to-business marketplace that operates Amazonbusiness.in, said last week it received $52.6 million in funding from Singapore-based Amazon Corporate Holdings Pvt. Ltd. Amazon Corporate Holdings is Amazon.com Inc.’s grocery and e-retailing subsidiary serving India.
Amazon Wholesale India also received a $15 million cash infusion from Amazon Corporate Holdings in December, according to a report published by VCCircle, an Indian news service based in Noida.
“We are relentlessly focused on expanding our selection and raising the standard for customer experience and online shopping in India,” a spokesman for Amazon Wholesale India says. “With Amazon Wholesale India, our vision is to build a place where businesses can come to find and discover virtually anything they want to buy online.”
Indian businesses have embraced B2B marketplaces, and Amazon isn’t the only game in India. In early 2016 IndiaMart and NinjaCart, two India-based business-to-business e-marketplaces, cashed in on some fresh venture capital funding, benefitting from an ongoing trend of investing in India’s online businesses.
IndiaMart, a general merchandise marketplace, received a Series C round of funding in March of that year, but declined to specify the amount. The company said it would use the funds to expand its e-marketplace, and its subsidiary marketplace Tolexo.com, which connects primarily Indian business buyers with more than 5,000 global suppliers.
In December 2016, India moved all government purchases—from paper clips to power plant turbines—to an online marketplace known as GeM, short for Government e Marketplace. The new system enables vendors across India to bid for any government purchase.
Amazonbusiness.in launched in May 2015. The B2B wholesale marketplace targets small offices, entrepreneurs, department stores, kirana stores, drugstores, clinics, hospitals, hotels and restaurants. Kirana stores are small owner-operated shops that number in excess of 12 million in India.
Amazonbusiness.in operates in the cities of Bangalore and Mangalore.
Amazon Seller Services Pvt. Ltd, the e-commerce company’s Indian arm handling seller operations, recently received $260 million from Amazon Corporate Holdings Pvt. Ltd and the U.S.-based parent company.
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