●What is the news ?
•Amazon Pay India Private Limited, the e-commerce giant Amazon, has received fresh funding of ₹225 crore.
•The fresh investment has been made by Amazon Corporate Holdings Private Limited, Singapore and Amazon.com Inc Limited, Mauritius against 22.5 crore equity shares. The significant share has gone to Amazon Singapore which has invested ₹ 224.9 crore.
• The funds are to be used for infrastrure development .
●Things to know more
•Since 2013, Amazon Inc. has committed to invest around $6.5 billion in its Indian operations.
•It plans to set up 10 new fulfilment centres, 5 new sortation centres, nearly 200 delivery stations, and over 1 lakh seasonal jobs to help meet customer demand .
• According to documents filed with the Registrar of Companies, on April 23, Amazon Seller Services Pvt. Ltd raised ₹915 crore against 91,49,57,723 shares and 42,277 shares allotted to, Amazon Corporate Holdings Private Limited and Amazon.com.incs Limited Company, respectively. The documents were sourced from Tofler.