India-based Ninjacart, an online platform serving retailers, restaurants, and service providers with fresh produce from farmers, raised USD 145 million on 13th December.
Investors: The investment round was led by Walmart and Flipkart. The Agritech startup claims it is the largest deal ever struck in India.
Purpose of funding: The startup plans to accelerate growth in target areas and expand delivery across cities with the funds. Agri value chain participants such as farmers, retailers, wholesalers, consumers, and supply chain participants will further benefit from this investment in building technology and infrastructure.
About Ninjacart
Founded in 2015 by Sharath Loganathan, Thirukumaran Nagarajan, Vasudevan Chinnathambi, Kartheeswaran KK, Ashutosh Vikram, and Sachin Jose, Ninjacart is located in Bengaluru, India. Ninjacart is an online platform serving retailers, restaurants, and service providers with fresh produce from farmers using an application. Using technology and analytics, the startup took control of the Supply Chain, eliminating intermediaries. In addition, the startup provides reliable, cost-efficient, high-speed logistics and infrastructure to reduce food wastage and inefficiencies in the Supply Chain. The startup aims to create India’s biggest and most efficient supply chain platform, improving businesses, consumers, and producers significantly.
What the founder has to say
“Thanks to our employees, farmers, retailers, and all ecosystem players. The funds will enable us to dream beyond organizing the farmer-to-retailer ecosystem to a much larger goal of organizing the complete Agri ecosystem and enabling transparent commerce. We are ecstatic that Flipkart and Walmart continue to partner with us in making this vision a reality by believing in our technological expertise and core values. India is at the cusp of formalizing the agriculture industry, with the advent of better road connectivity, GST, seamless payments, digital infrastructure, etc. This opens up a tremendous opportunity to organize our Agri ecosystem landscape like never before. We are investing in this huge potential to create value. The funds will be deployed to build world-class teams, scalable tech platforms to organize and grow the network,” said Thirukumaran Nagarajan, Co-founder and CEO at Ninjacart.
What the investor has to say
“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 are further able to strengthen our grocery footprint and to offer as consumers across the country throng to e-grocery for quality and affordable options in the new category. Through technology, we can bring great efficiencies in the value chain and create an impact by providing 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 endeavour 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,” said Kalyan Krishnamurthy, CEO at Flipkart Group.
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