The e-commerce giant Amazon has launched a $250 million (Rs 1,873 crore) venture fund called “Amazon Smbhav Venture Fund”, to invest in Indian startups and entrepreneurs, with a focus on digitizing SMEs. The launch of the Amazon Smbhav Venture Fund aims to attract the best ideas and empower entrepreneurs in the country to partner in this vision.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
The Amazon Smbhav Venture Fund will focus on three key priorities:
- Digitisation of small and medium businesses (SME) in India
- Drive innovation in Agri-tech innovations to empower farmer productivity and reach
- Drive innovation in Health-tech to provide universal and quality health care
As a part of its first investment through the ‘Smbhav’ fund, Amazon invested in Gurugram-based M1xchange which connects SMEs with banks and financiers.
Important takeaways for all competitive exams:
- Amazon.com Inc founder and CEO, Jeff Bezos.
- Amazon.com Inc Founded: 5 July 1994.
- Amazon.com Inc Headquarters: Seattle, Washington, United States.