The business model, started by Amazon India under its ‘Seller Flex’ programme last year, is being adopted by other marketplaces ahead of the festive season.
The capital will be used by the company to set up an additional manufacturing unit outside of Mumbai where it operates two units.
The company will continue to be led by Yatra's management team under leadership of chief executive and co-founder Dhruv Shringi and will be listed on nasdaq.
The acquisition would aid Snapdeal to try and claw back the market share it has lost to Amazon India over the past six months, by strengthening its supply chain.
Snapdeal, which is strengthening its supply chain and logistics capabilities, had invested Rs 240 crore in GoJavas in two subsequent rounds in 2015.
After starting its operations in Malaysia and Singapore, ibiboGroup drives redBus's expansion to Latin America in style
“We will continue to be a marketplace as it is very difficult to predict which SKUs do well in the beauty segment,” says Manish Taneja, cofounder.
The additional capacity will open up 5.5 million square feet of storage space for sellers on the marketplace who use the Fulfilled by Amazon service.
India is the first market of the 22 countries in which BlaBlaCar operates where the company has introduced this feature.
The global companies running the programmes are on the lookout for startups which align with their business strategy for the country.
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