Amazon launched a $250M venture capital fund in India focused on digitizing small to medium-sized businesses (SMBs). The fund will help SMBs sell their products online, access new markets, and automate their operations. The fund will also focus on agriculture and healthcare.
- The fund is a clear sign that incoming CEO Andy Jassy views India as one of Amazon's most important international markets.
- Under current CEO Jeff Bezos, Amazon has invested $6.5B in India.
- Earlier this month, Amazon revealed it has created 300,000 jobs and enabled the export of $1B worth of goods since January 2020.
- Around 250,000 new sellers and at least 50,000 offline retailers have joined Amazon's Indian platform since the beginning of last year.
- Last month, Amazon acquired e-commerce startup Perpule for $14.7M.