Ninjacart gets Walmart funds
Premium- Ninjacart will utilize this capital for technology upgradation and better infrastructure to organize, empower and enhance the lives of agri-value chain participants, including farmers, resellers, retailers, consumers, and supply chain participants
NEW DELHI : Ninjacart, a business-to-business marketplace for agricultural produce, said on Monday it has raised $145 million (Rs1,095 crore) in a fresh round of funding from existing investor Walmart Inc. and its Indian e-commerce arm Flipkart.
Ninjacart will utilize this capital for technology upgradation and better infrastructure to organize, empower and enhance the lives of agri-value chain participants, including farmers, resellers, retailers, consumers, and supply chain participants, the company said.
“India is at a cusp of formalizing the agriculture industry, with the advent to better road connectivity, GST, seamless payments, digital infrastructure, etc. This opens up a tremendous opportunity to organize our agri ecosystem landscape like never before," Thirukumaran Nagarajan, chief executive officer at Ninjacart, said.
Ninjacart, operated by 63Ideas Infolabs Pvt. Ltd, was founded in 2015. It began as a hyperlocal grocery delivery company and then shifted to a business-to-business setup. Farmers can sell vegetables and fruit directly to business establishments such as shops, retailers and restaurants via the startup’s platform.
Ninjacart says it works closely with farmers and has helped over 100,000 farmers across 150 villages to generate better revenue. “With this investment, we are further able to strengthen our grocery footprint and offering as consumers across the country throng to e-grocery for quality and affordable options in the fresh category," said Kalyan Krishnamurthy, CEO at Flipkart Group. Flipkart offers grocery in 1,800 cities and towns and aims to take its offering to 2,000 more towns by mid-next year. Fresh fruit and vegetables will be integral to the expansion, with the firm investing in technology capabilities to ensure best quality checks for the end-consumer.
