- Ninjacart, a business-to-business marketplace for agricultural produce, has raised $145 million in a fresh round of funding from existing investor Walmart Inc., and its Indian e-commerce arm Flipkart.
- Valuation of Ninjakart was estimated by different News Medias to be around $750 to $900 Million.
- Ninjacart is an Indian fresh produce supply chain company. It connects producers of food directly with retailers, restaurants and service providers using in-house applications that drive end to end operations. Currently its supply chain is equipped to move 1400 tons of perishables from farms to businesses every day in less than 12 hours.
- Ninjacart works closely with the farmers and has helped over 100,000 farmers across 150 villages to generate better revenues. Ninjacart’s supply chain technology has helped solve some of the problems such as distribution inefficiency and price risk. Its endeavor is to reach every single farmer across the country with its technology solutions and help them better their lives.
- The Flipkart Group is a digital commerce entity and includes group companies Flipkart, Myntra, Flipkart Wholesale and Cleartrip and majority shareholding in PhonePe.
- Started in 2007, Flipkart has a registered customer base of more than 350 million, offering over 150 million products across 80+ categories.
- S. retail giant Walmart acquired majority (77%) stake in Flipkart in 2018.
- Thirukumaran Nagarajan, Co-founder and CEO of Ninjacart commented that the funds will enable them to move beyond organizing the farmer-to-retailer ecosystem to a much larger goal of organizing the complete agri ecosystem and enabling transparent commerce.
- In May 2021, Ninjacart raised $9.5 million from its existing investor Syngenta Ventures and earlier in April 2019 when it raised $90 million from Tiger Global.
- Earlier this year, Ninjacart signed a MoU with the Union Ministry of Agriculture & Farmer Welfare to strengthen the market linkages and promote best practices in the farming sector. Its goal is to create and host the Agri Marketplace Platform (AMP), which should allow farmers to earn a fair price for their output.
- Agritech is combination of agriculture and technology. Technology is used to increase the quality and yield of agricultural produce with aim to increase the profitability. Agrostar, Dehaat, Stellapps, Intello labs etc. are some of the players in the Agritech industry.
- Flipkart offers grocery in 1800 cities & 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. It has intensified its focus on partnering with Farmer Producer Organizations (FPOs) to provide access to fresh produce, staples, pulses, and spices on its marketplace platform.
RBI Bulletin (www.bulletin.rbi.org.in), SEBI (www.sebi.gov.in), NSE (www.nseindia.com), BSE (www.bseindia.com)
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