Categories: Business

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.

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.

Find More Business News Here

Sumit Arora

As a team lead and current affairs writer at Adda247, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.

Recent Posts

Kancha Gachibowli Land Controversy Protest All You Need To Know

The auction of 400 acres of forested land in Kancha Gachibowli, Hyderabad, has sparked widespread…

8 hours ago

Richest Man in India by April 2025, Know the Names of Top-10

India is home to some of the wealthiest individuals in the world. These billionaires have…

11 hours ago

Richest Man in the World by April 2025, Know About the Top-10 Richest Men

The richest men in the world have made huge amounts of money through technology, shopping…

11 hours ago

Excise Duty Hiked on Petrol and Diesel

Central Government of India announced an increase in excise duties on petrol and diesel by…

12 hours ago

Who was the First Defence Minister of India?

India became an independent country on 15th August 1947. After independence, the new government was…

12 hours ago

Kazakhstan’s Major Rare Earth Elements Are Discovered

Kazakhstan has uncovered its largest-ever reserve of rare earth metals at the Kuirektykol site in…

12 hours ago