Amazon's venture fund to invest $120m in Indian startups

Amazon India plans to invest US$120 million in startups within the country’s consumer goods manufacturing sector.

The initiative focuses on digitizing operations and expanding in domestic and global markets.

The investment is part of the Amazon Smbhav Venture Fund, aligned with a memorandum of understanding with the Department for Promotion of Industry and Internal Trade (DPIIT).

The Amazon Smbhav Venture Fund, launched in 2021 with a US$250 million corpus, has now expanded to US$350 million.

Recent Amazon developments

Timeline
09-Dec-2024 💼 Amazon India’s head of consumer electronics resigns Ranjit Babu resigns as Amazon India’s head. Managed consumer electronics for a decade.
01-Dec-2024 ⚖️ Amazon allegedly violates labor law at its Indian warehouse Amazon under scrutiny for labor law violations Warehouse conditions draw concerns over worker safety
29-Nov-2024 🤖 Amazon plans to unveil its AI model Olympus next week Amazon to unveil AI model Olympus at AWS next week New LLM can analyze images, videos using text prompts
28-Nov-2024 💰 Amazon invests $1.5b in Singapore businesses in 2023 Amazon invests S$2B in Singapore retail and cloud Supports 10,000+ jobs via direct and indirect impact
26-Nov-2024 📰 Amazon cuts 50 jobs in Israel, ends part of ad unit Amazon to close part of ad division in Israel Affects around 50 employees amid global reduction

Stay ahead in Asia’s tech landscape

You've reached your 2 free content limit for the month. Sign up for free to read the full story.

🏄 For casual readers / 👶 Free

Basic

US$0

Free forever

Get instant access to this article and more every month

0 premium content

Unlimited news briefs

5 articles

Ad-free reading experience

Just US$0 per day

⌛Sign up in 20s. No payment details needed.

📖 For learners / 👍 Starter

Lite

US$4.92/month

Billed annually at US$59/year

Get instant access to this article and more every month

4 premium content

Unlimited news briefs & articles

Ad-free reading experience

Just US$0.17 per day

Cancel anytime

Our subscriber community includes professionals from these companies:

Recent Amazon developments

Stay ahead in Asia’s tech landscape

Stay updated on the go with our mobile app.