It has just acquired a single tech startup Emvantage and has invested in less than half a dozen tech startups in India, as per the data issued by startup tracker Tracxn
Even as e-commerce giant Amazon is reported to be close to offering a rival bid to buy domestic firm Flipkart, it is interesting to note that Amazon hasn’t been an aggressive tech startup buyer in India.
It has just acquired a single tech startup Emvantage and has invested in less than half a dozen tech startups in India, as per the data issued by startup tracker Tracxn.
Amazon acquired payments firm Emvantage for an undisclosed amount in 2016.
According to Tracxn, Amazon has invested twice in BankBazaar and QwikCilver. It participated in USD 60 million and USD 30 million fund raising rounds of BankBazaar in 2015 and 2017, respectively.
In QwikCilver, Amazon invested in 2014 and 2016 when the company raised USD 10 million each.
The rest of the two companies Amazon invested in are Housejoy and Zippr. It participated in Housejoy’s USD 23 million and Zippr’s USD 6 million funding rounds, respectively.
The buying pattern is however strikingly different in the global market. About 70 companies have either raised funds or have been acquired by Amazon globally.
Some of the recent ones include names like connected doorbell startup Ring that was acquired for about USD 1 billion.
According to a reports, Amazon may submit a rival bid to buy Flipkart even as the latter is in advanced level of talks with Walmart to sell a majority stake.
The report states that Amazon, which is also one of the largest e-commerce services in India, has held early exploratory talks to purchase Flipkart.
This however is not for the first time that reports of Amazon’s interest in Flipkart has come to light. In 2016 too it was reported that the two companies were in talks for an acquisition.
