Amazon’s Smbhav Venture Fund to Invest $120 Million in Manufacturing and AI Startups

E-commerce company Amazon has embarked $120 million from its Smbhav Venture Fund to support startups in India that focus on manufacturing, AI and brand building.

The company’s initiative is expanding its Smbhav Venture Fund as part of a new agreement with the Department for Promotion of Industry and Internal Trade.

The Smbhav Venture Fund, started in 2021 with $250 million, aims to help small businesses and startups in areas like agritech, digital transformation, and local manufacturing.

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The Smbhav Venture Fund initially focused on agriculture and healthcare but has since expanded to include D2C brands, fintech, gaming, and manufacturing. Since its launch, the fund has supported several fast-growing startups like The Good Glamm Group, FreshToHome, XYXX, Hopscotch, Fitterfly, Cashify, Acko Insurance, smallcase, and M1xchange. These companies are using technology to drive growth and make an impact in their industries.

"I am incredibly excited about the opportunities that lie ahead for Amazon in India. As one of the world's fastest-growing economies, India is a key market for Amazon and our focus areas align well with the government’s vision and priorities of digitising small businesses, boosting exports and creating jobs," says Amit Agarwal, Senior VP, Emerging Markets at Amazon. 

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