Amazon launches $250-million Venture Fund for Digitizing SMEs in India

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.

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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.

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