Amazon-branded startup Thrasio to invest $500 million to expand e-commerce in India

Amazon-branded startup Thrasio to invest $500 million to expand e-commerce in India

Thrasio, backed by Silver Lake, is one of a slew of startups looking to capitalize on Amazon’s e-commerce dominance by acquiring up-and-coming sellers on the company’s third-party marketplace. Thrasio and its peers buy out small merchants, sometimes mom-and-pop operations run out of garages, and plan to use their retail expertise to turn the acquisitions into global brands.

Thrasio Holdings Inc., an aggregator of private brands on Amazon.com Inc., is setting more than $500 million for an extension in India to target one of the world’s quickest growing e-commerce business markets. The Walpole, Massachusetts-based startup said it gained consumer goods organization Lifelong Online to commence the push, without unveiling the worth. Lifelong’s item categories include kitchen, home, lifestyle and medical care, Thrasio said in an assertion Friday.

“In addition to acquiring and growing digital-first businesses, we plan to participate in the ‘make in India’ movement by transitioning the manufacturing for some of our products to the country,” Carlos Cashman, Thrasio’s chief executive officer, said in the statement.

Thrasio has acquired more than 200 brands and raised over $3.4 billion in capital and plans to continue expanding globally. The startup’s rivals include Mensa Brands, backed by Tiger Global and Accel, and SoftBank Group Corp.-backed GlobalBees Brands.

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