This investment will further accelerate Ninja cart's journey towards building technology and infrastructure to organize, empower and enhance the lives of millions of Agriculture value chain participants including farmers, resellers, retailers, consumers, and supply chain participants.
US-based retailer Walmart Inc and Flipkart Group on Monday announced to invest $145 million in agriculture technology startup Ninja cart. This is the third time Flipkart has invested the in fresh produce supply chain company Ninja cart.
This investment will further accelerate Ninja cart's journey towards building technology and infrastructure to organize, empower and enhance the lives of millions of Agriculture value chain participants including farmers, resellers, retailers, consumers, and supply chain participants, a statement read.
Ninjacart has been investing significantly in tech platforms and supply chain infrastructure over the past two years.
In October 2020, Walmart and Flipkart Group had pumped in an undisclosed amount of funding in the Bengaluru-based company.
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, Flipkart Group Chief Executive Officer Kalyan Krishnamoorthy said.
He further said that Flipkart's investment and partnership in Ninja cart over the years is a testament to the continued commitment and success it has seen in the endeavor to create a democratic and organized agriculture market.
Flipkart offers groceries 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.
Flipkart is also working to bring efficiencies in the community e-grocery shopping model. The company has intensified its focus on partnering with Farmer Producer Organizations to provide access to high-quality fresh produce, staples, pulses, and spices, bringing new revenue opportunities to farmer communities across the country.
Ninja cart works closely with the farmers and has till date helped over one lakh farmers across 150 villages to generate better revenues. Its supply chain technology has helped solve problems such as distribution inefficiency and price risk.
“India is at a cusp of formalizing the agriculture industry, with the advent with better road connectivity, GST, seamless payments, digital infrastructure, etc. This opens up a tremendous opportunity to organize our agriculture- ecosystem landscape like never before. We are investing in this huge potential to create value, Ninja cart co-founder and Chief Executive Officer Thirukumaran Nagarajan said.
He added that the funds will be deployed to build world-class teams, scalable tech platforms to organize and grow the network.
Earlier this year, Ninjacart signed an MU (Memorandum of Understanding) with the Union Ministry of Agriculture and Farmer Welfare to strengthen the market linkages and promote best practices in the farming sector. The role of Ninja cart is to create and host the Agriculture Marketplace Platform (AMP), which will allow farmers to earn a fair price for their output, offer consumers better food and value to all the players to create value.
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