The investment was made in November which takes its total capital invested in the company to more than Rs 7,000 crore in the past one year, according to regulatory filings.
“We will invest what it takes to become the customers’ preferred choice in India, and are encouraged that we are India’s largest and fastest-growing e-commerce marketplace,” said an Amazon India spokeswoman in an Economic Times article.
The report also said that Amazon is estimated to have lost over Rs 1,000 crore to woo customers with special offers and discounts in the festive season in October. It is losing around Rs 600 crore every month during non-sales month.
Amazon has been aggressively expanding its services in India. In the last three years since Amazon entered in India, has introduced a few of its global programmes this year. Recently, it launched Prime service which offers quicker deliveries and early-access deals. Last week, the company announced Prime Video services in India which have a range of Hollywood and other international movies and TV shows. With this, Amazon Prime has announced the launch of nine Indian original shows, making it the largest Indian original line-up on an OTT (over-the-top) platform.
Amazon is also building an app which matches truck drivers with shippers, according to media reports. Early this month, the e-commerce firm announced the launch of its global programme for start-up products, Launchpad, in India. In October, it launched Global Store for Indian shoppers, offering products from its US online store that isn’t available in India.