Ninjacart, an India-based fresh produce supply startup has raised US$145 million funding from Filpkart and Walmart that will further strengthen the startup’s vision to ensure better access to high-quality fresh produce for more consumers and retailers across India.
This is the third round of investment by Flipkart and Walmart into Ninjacart that has taken the startup’s total funding to US$348 million to date.
Ninjacart with this latest investment is expected to further accelerate its plan to build infrastructure and technology to improve the agri value chain covering the ecosystem of retailers, resellers, farmers, supply chain participants, and consumers.
The Bengaluru-based startup has made major investments in supply chain infrastructure and technology platforms in the last two years.
Kalyan Krishnamurthy, chief executive officer, Flipkart Group, said, “As a homegrown company, we have constantly focused on creating the right infrastructure and technological solutions that support local farmers, producers, and food processors. With this investment, we can further strengthen our grocery footprint and offering as consumers across the country throng to eGrocery for quality and affordable options in the fresh category. Through technology, we can bring great efficiencies in the value chain and impact the farming community additional opportunities for better income. Our investment and partnership in Ninjacart over the years is a testament to the continued commitment and success we have seen in our endeavor to create a democratic and organized agriculture market. At Flipkart, we are well poised and committed to building a sustainable ecosystem for fresh produce and uplift the communities associated with it in the process.”
Ninjacart CEO and co-founder Thirukumaran Nagarajan said, “The funds will be deployed to build world-class teams, scalable tech platforms to organize and grow the network.”
Founded in 2015 by Ashutosh Vikram, Sharath Loganathan, Kartheeswaran KK, Thiru Nagarajan, and Vasu Devan, Ninjacart operates an online B2B platform that connects farmers, manufacturers, and brands to retailers directly through the connected and lean supply chain.
To date, Ninjacart has enabled more than 100,000 farmers across 150 villages to generate better revenues.
The startup has also signed an MoU earlier this year with the Union Ministry of Agriculture and Farmer Welfare to promote best practices in the farming sector and strengthen the market linkages.