Amazon announces $250 Mn venture fund for Indian startups

Amazon announced a $250 Mn fund that will focus on digitising small and medium businesses, and drive innovation in the areas of agritech and healthtech.

"Small and medium-sized businesses are often the engine and the lifeblood of economies, and I think it's true in India as well. And we are very passionate about trying to enable acceleration of SMBs in fuelling innovation and the economy in India, and so building on what we did last year, I'm excited to announce a brand new $250 million Amazon Smbhav Venture Fund," Amazon Web Services CEO Andrew Jassy CEO said.

Under this, Amazon intends to help inspire more SMBs to be able to build brand new businesses, said Jassy during the second Amazon Smbhav event. Amazon India Global SVP and Country Head India, Amit Agarwal, said the fund is targeted at empowering the best ideas, and attracting visionary entrepreneurs.

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