Ninjacart has raised $145 million in a fresh round of funding from existing investors, US retail giant Walmart Inc, and its Indian e-commerce arm, Flipkart.
The B2B agritech company will utilize this capital for technology upgradation and better infrastructure to organize, empower and enhance the lives of millions of agri-value chain participants including farmers, resellers, retailers, consumers, and supply chain participants.
Thirukumaran Nagarajan, Co-founder, and CEO, Ninjacart said, "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 investment of USD 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.
Flipkart Group Chief Executive Officer Kalyan Krishnamurthy said, “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.”
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