Walmart and the Flipkart Group at the moment introduced a recent spherical of funding in Ninjacart, the modern startup disrupting India’s recent produce market with its made-for-India business-to-business (B2B) provide chain infrastructure and expertise options. This follows the funding made by Walmart and the Flipkart Group in December 2019, as the businesses proceed to deal with making certain entry to top quality recent produce for shoppers and retailers whereas creating financial alternatives for farmers by the continued use of expertise.
For Ninjacart, this additional deepens the partnership with Walmart and the Flipkart Group to enhance its choices and improve buyer expertise. Ninjacart continues to draw world-class backers comparable to Tiger Global, Accel, Tanglin, Steadview, Syngenta, Nandan Nilekani and Qualcomm amongst different outstanding buyers.
During the COVID lockdowns, Ninjacart demonstrated agility and innovation by launching a collection of initiatives comparable to condominium supply, together with a ‘Farm to fork’ pilot with Flipkart, buyer supply by meals supply apps, ‘Harvest the Farms’ initiative, and many others. in every week’s time to assist each clients and farmers. Also in an Industry-first transfer, Ninjacart launched ‘FoodPrint’ — a 100% traceability platform for its merchandise throughout the COVID lockdown to enhance the meals security.
This second spherical of funding demonstrates Walmart and the Flipkart Group’s continued dedication to spend money on India’s agriculture & meals provide chain and powerful confidence in Ninjacart. The follow-on funding additional validates Ninjacart’s sturdy execution capabilities and its capacity to innovate within the difficult recent meals provide chain area.
As Flipkart grows its Supermart (grocery) and Flipkart Quick (hyperlocal enterprise), Ninjacart will proceed to play a key position in offering recent produce to shoppers throughout the nation as they more and more take a look at e-grocery to fulfill their wants.
Ninjacart has developed many indigenous options that work for India at scale — it has constructed India’s low-cost last-mile community utilizing an modern community mannequin coupled with information science. It’s less-than-12 hours connectivity from farm to retailer helps keep away from the necessity for management temperature provide chain for perishable items.
Kalyan Krishnamurthy, CEO, Flipkart Group, mentioned, “The e-grocery market in India has seen tremendous growth over the past several months as people have increasingly taken to ordering groceries and fresh produce online. At the Flipkart Group, we are focused on ensuring that we continue to work towards developing new and innovative ways to meet our customers’ needs in this space through the growth of Supermart and the recent launch of Flipkart Quick. We will continue to make investments to offer the best produce to our customers and support livelihoods and sustainable growth for local farmers, producers and the supply chain ecosystem. Our pilots and current business engagement with Ninjacart have been encouraging as we leverage technology to address changing consumer behaviour across the country.”
Commenting on the announcement Thirukumaran Nagarajan, CEO & Co-founder of Ninjacart mentioned, “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.”
In the approaching months, Ninjacart will use the capital to increase to new markets and construct new choices and provide chains for rising buyer segments, whereas persevering with to innovate on the provision chain to make it extra environment friendly, dependable, and worthwhile.