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Amazon pumps Rs 284 crore into food retail unit, Retail News, ET Retail

Amazon pumps Rs 284 crore into food retail unitAmazon has pumped in Rs 284 crore in Amazon Retail, the unit which sells grocery and food items on the India marketplace, according to regulatory documents sourced from business intelligence platform Tofler.

This comes at a time when Amazon India is only selling essentials due to the lockdown restrictions and is witnessing high demand for grocery and food items.

The capital infusion was approved last month before the lockdown began. Amazon’s Singapore and Mauritius-based entities have infused the capital. In October last year, Amazon Retail had received about Rs 172 crore in new capital, which was preceded by another Rs 240 crore earlier.

The food retail unit plays a critical role in fulfilling orders for Amazon Pantry and Amazon Fresh, the two primary vehicles for selling essential items. The company is currently seeing a continuous rise in order volumes and now has restarted deliveries in select areas of about 40 cities.

The latest capital infusion will only mean the Seattle-based e-tailer’s local arm would further scale up the grocery and food retailing business as consumers are expected to further curtail their spending on non-essential items. An email sent to Amazon India did not elicit any response on the matter.

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