New Delhi Ninjakart, a business-to-business marketplace for agricultural products, on Monday said it has raised $145 million (Rs 1,095 crore) in a fresh round of funding from existing investor Walmart Inc and its Indian e-commerce arm Flipkart.
Ninjakart will use this capital to streamline, empower and enhance the lives of agri-value chain participants, including farmers, resellers, retailers, consumers and supply chain participants, for technology upgradation and improved infrastructure, the company said.
Thirukumaran Nagarajan, “India is on the verge 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 streamline our agriculture ecosystem.” said the CEO of Ninjakart.
Ninjakart, Powered by 63Idea Infolabs Pvt Ltd. Ltd, was established in 2015. It started as a hyperlocal grocery delivery company and then shifted to a business-to-business setup. Through the startup’s platform, farmers can sell vegetables and fruits directly to commercial establishments such as shops, retailers and restaurants.
Ninjacart says it works closely with farmers and has helped more than 100,000 farmers in 150 villages earn better revenue. “With this investment, we are able to strengthen our grocery footprint and offerings as consumers across the country,” said Kalyan Krishnamurthy, CEO, Flipkart Group. It is targeted to be offered in 1,800 cities and towns and 2,000 more by the middle of next year. Fresh fruits and vegetables will be integral to the expansion, with the firm investing in technology capabilities to ensure the best quality checks for the end consumer.
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