It first invested a hidden amount in the Bengaluru-based start-up in 2019 and then, it put around $30 million more in the organisation last year with Walmart.
Ninjacart, a fresh produce supply chain company, founded in the year 2015, has raised $145 million from Flipkart and its US based parent company Walmart Inc, which is believed to be the greatest deal in India’s AgriTech space according to the Indian e-commerce firm.
This is Flipkart’s third time investment in Ninjacart. It first invested a hidden amount in the Bengaluru-based start-up in 2019 and then, it put around $30 million more in the organisation last year with Walmart. In order to accelerate the business journey of Ninjacart, these investments will prove fruitful for the organisation. It will also work towards the enhancement and improvement of the company’s infrastructure, that will result in organising the lives of millions of lives that are related to the agricultural value chain in the industry including farmers, retailers, consumers and other participants of the supply chain.
Ninjacart currently operates in seven cities cross the country including Hyderabad, Pune, Delhi, Bengaluru, Chennai, and Mumbai. The company acquires fresh fruits and vegetables directly from the farmers and supplies them to the retailers for selling, hotels, and even to the residential apartments and complexes.
The other investors of the company include Venture capital firm US based Qualcomm Ventures, Accel, Russia’s HR Capital, Japanese venture capital firm-cum-accelerator, South Korea-based Neoplux, Mistletoe, Infosys co-founder Nandan Nilekani’s NRJN Trust and the venture arm of Doosan Corp.
Ninjacart currently operates in seven cities cross the country including Hyderabad, Pune, Delhi, Bengaluru, Chennai, and Mumbai.
Flipkart is offering in 1,800 cities and towns and it has the aim to add to the figure by taking its offering to 2,000 more towns by the middle of the year 2022. With the company investing more and more in the technological capabilities, fresh fruits and vegetables will play an important role to ensure the high-detailed quality checks at the customer end.
Flipkart is also believed to be working to bring more efficiency to the community of e-grocery shopping system. The company therefore, has decided to focus more on the partnership building with the Farmer Producer Organisations to help and provide the access of high-quality fresh produce, pulses, staples and spices to the farmers in order to bring new revenue opportunities to the agricultural community in India.Â
Ninjacart also works closely with the farmers and has helped over one lakh farmers across 150 villages to generate better revenues with the help of its supply chain technology to solve problems such as distribution instability and price risk.
“India is at a cusp of formalising the agriculture industry, with the advent to better road connectivity, GST, seamless payments, digital infrastructure, etc. This opens up a great opportunity to re-organise our agri- ecosystem landscape.” Ninjacart co-founder and Chief Executive Officer Thirukumaran Nagarajan said.
Ninjacart signed an MoU (Memorandum of Understanding) with the Union Ministry of Agriculture and Farmer Welfare to strengthen the market networking and promote the best practices in the farming sector. The main role of Ninjacart is to host the Agri Marketplace Platform (AMP), which will help the farmers to earn a fair price for the produce they provide, offer the consumers with better food products and adding value to the participants of the market.
Ninjacart signed an MoU (Memorandum of Understanding) with the Union Ministry of Agriculture and Farmer Welfare to strengthen the market networking and promote the best practices in the farming sector.
