Amazon India earmarks $120 million to invest in manufacturing, AI startups; targets 4x jump in exports

Amazon India on Tuesday announced that it has earmarked $120 million for investment in manufacturing and AI startups in the country through its Smbhav Venture Fund, expanding the $250 million fund size. The announcement was made at the company’s annual event for small business, Smbhav.

Launched in 2021, the fund backs technology startups and has expanded its scope from earlier focusing on agriculture and healthcare startups to direct-to-consumer (D2C) brands and sectors including fintech, gaming and manufacturing.