Ninjacart Raises $145 Million From Flipkart India, Walmart Funds will be utilized to build world-class teams, scalable tech platforms to organize and grow the network
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Ninjacart, a revolutionizing India's fresh produce market, has raised $145 million from Flipkart India and Walmart.
The investment of $145 million from Flipkart and Walmart further validates and strengthens Ninjacart's vision to ensure better access to high-quality fresh produce for more retailers and consumers across India while also creating economic opportunities and better incomes for farmers in India, said a statement. It further added that this investment will accelerate Ninjacart's journey towards building technology, infrastructure to organize, empower and enhance the lives of millions of agri-value chain participants including farmers, resellers, retailers, consumers and supply chain participants.
"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 offering as consumers across the country throng to e-grocery for quality and affordable options in the fresh category. Through technology, we are able to 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 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," said Kalyan Krishnamurthy, CEO, 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 fruits and vegetables will be an integral part of the expansion, with the company investing in technology capabilities to ensure the highest and most stringent quality checks for the end consumer, said a statement.
"Thanks to our employees, farmers, retailers, and all ecosystem players. 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 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. 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, Ninjacart.
Ninjacart was founded in 2015. It brings cutting-edge technology to improve the efficiency of the agri supply chain. Ninjacart works closely with the farmers and has till date helped over 1,00,000 farmers across 150 villages to generate better revenues. Earlier this year, Ninjacart inked an MoU with the Union Ministry of Agriculture and Farmer Welfare to strengthen the market linkages and promote best practices in the farming sector.
