Ninjacart, the Bangalore-based business-to-business (B2B) fresh produce supply chain infrastructure provider, bagged US$30 million in funding on 12th October 2020. This investment was made jointly by Walmart and Flipkart for improving partnership with Ninjacart and ensuring access to high-quality fresh produce and superior customer experience.
Walmart-Flipkart is investing in Ninjacart for the second time. In August 2019 Flipkart had invested US$ 20 million in Ninjacart. Other investors in Ninjacart include Tiger Global, Accel, Tanglin, Steadview, Syngenta, Nandan Nilekani and Qualcomm.
Ninjacart will use the fresh capital to also expand to new markets. Walmart and Flipkart invested in Ninjacart because of the massive growth of the online grocery delivery sector due to the Covid-19 pandemic.
Flipkart will use Ninjacart’s facilities to supply fresh produce for its online grocery service Supermart and hyperlocal local delivery service Flipkart Quick. Flipkart is also looking into launching a new procurement platform for Kirana stores (general grocery stores in India).
During the Covid-19 lockdown in March, Ninjacart launched Farm-to-fork with Flipkart, doorstep delivery, customer delivery through food delivery apps, ‘Harvest the Farms’ initiative, etc. to support the farmers and help the customers. Ninjacart also launched the ‘foodprint’ initiative to improve transparency by making a 100% traceable supply chain for its products, for food safety.
Thirukumaran Nagarajan, CEO & Co-founder of Ninjacart said, “The fresh set of investments from Walmart and the Flipkart Group takes us one step closer to our vision of making food safe and accessible for the billion people and changing the way food reaches our plate. We are excited to have Walmart and the Flipkart Group show confidence in our capabilities around growth and profitability. We will continue to invest in areas that impact the lives of Customers and Farmers positively.”
About Ninjacart
Ninjacart is India’s largest Fresh Produce Supply Chain Company, pioneering in solving supply chain problems by innovating indigenous technology. This business to business (B2B) company sources fresh produce from farmers and delivers it to businesses within 12 hours. It was founded in 2015 with a vision to improve the lives of producers, businesses, and consumers in a meaningful manner. It was co-founded by Sharath Loganathan, Vasudevan Chinnathambi, Thirukumaran Nagarajan, Kartheeswaran KK and Ashutosh Vikram. Ninjacart’s focus is on making fragmented and interior parts of the society more accessible.
About Flipkart
Flipkart is a part of Flipkart group which is one of India’s leading e-commerce platforms and it also includes Myntra and Phonepe. It was launched in 2007 and now it has 80 million products across 80 plus categories. It was started by Sachin Bansal and Binny Bansal and registered in Singapore but headquartered in Bangalore. Walmart had acquired Flipkart in 2018.
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