Thrasio, an Amazon brand startup, will invest $500 for India e-commerce expansion
- ByStartupStory | January 16, 2022
Thrasio Holdings Inc., an Amazon.com Inc.-based aggregator of private brands, has set aside more than $500 million for an expansion in India, one of the world’s fastest-growing e-commerce markets.
To kick off the push, the Walpole, Massachusetts-based startup said it bought consumer goods company Lifelong Online for an undisclosed sum. Kitchen, home, lifestyle, and health care are among Lifelong’s product categories, according to Thrasio.
Thrasio, which is backed by Silver Lake, is one of a slew of startups looking to cash in on Amazon’s e-commerce dominance by acquiring up-and-coming sellers on the company’s third-party marketplace. Thrasio and its peers acquire small merchants, sometimes mom-and-pop operations run out of garages, with the intention of transforming the acquisitions into global brands.
“In addition to acquiring and growing digital-first businesses, we intend to participate in the ‘Make in India’ movement by shifting manufacturing for some of our products to the country,” Thrasio CEO Carlos Cashman said in a statement.
Thrasio has obtained over 200 brands and raised more than $3.4 billion in funding, with plans to continue expanding globally. Mensa Brands, which is backed by Tiger Global and Accel, and GlobalBees Brands, which is backed by SoftBank Group Corp., are two of the startup’s competitors.
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