The investment round is expected to value Smaash at over $100 million, according to sources familiar with the matter.
The share sales in Flipkart and Ola will take the total realisations for Tiger Global, which has invested $2 billion over a decade in India, to nearly $1.5 billion.
"The capital till now has been raised from global institutional investors, with no domestic investors," said one of the sources mentioned above.
The company is targeting to generate as much as a fourth of its overall revenue from that segment by 2020.
"As long as we continue to see investment opportunities, we will continue to invest regardless of what competitors are doing," Jeff Wilke of Amazon said.
Vijay Shekhar Sharma said entry of global companies would bring the needed attention to India’s digital payments market and lead to standardisation of products.
All these Internet giants have held talks with the food-delivery segment leaders Zomato and Swiggy besides cloud kitchen players like Freshmenu for investments.
While Zomato has proposed a stock-based merger, Bengaluru-based Swiggy is keen to acquire and operate the food delivery business of the Gurgaon-based rival.
The primary focus for Amazon India is to reach out to many customers with as many products as possible and ensure high repeat purchases, Agarwal said.
Total investment into Amazon Seller Services so far stands at Rs 14,940 crore, as compared to Flipkart’s Rs 8,349 crore through Flipkart Marketplace.
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