Amazon has made its first corporate venturing investment in India, taking a 15% stake in the gift card technology company as part of a $10m round.
E-commerce company Amazon has led a $10m round for India-based gift card technology company QwikCilver Solutions, taking a stake sized at just under 15% in the process, the Times of India has reported.
The funding marked the first corporate venturing investment in India by Amazon, which was joined in the round by venture capital firms Helion Venture Partners and Accel Partners.
Founded in 2008 and seeded by Helion and Accel, QwikCilver provides gift card services for retail and corporate customers.…
