BENGALURU (Reuters) – Amazon.com Inc <AMZN.O> has invested 7 billion rupees ($95.51 million) in its Indian payments unit, ahead of the festive season, data from business intelligence firm Tofler showed.
In July, Jeff Bezos-led Amazon.com had invested 23.10 billion rupees in Amazon Seller Services and early this year announced a $1 billion investment to bring more than 10 million small businesses online in India by 2025. [nL4N29K1LR]
Oil-to-telecom conglomerate Reliance is also expanding its new commerce venture and has raised 377.19 billion rupees ($5.14 billion) in a month by selling stakes in its retail unit to investors including KKR & Co, private equity firm Silver Lake and Abu Dhabi state fund Mubadala Investment Co. [nL4N2GX2QD]
($1 = 73.2900 Indian rupees)
(Reporting by Nallur Sethuraman in Bengaluru; Editing by Vinay Dwivedi)