Flipkart and its parent company WalmartInc. are together investing in Ninjacart, a fresh produce company with an amount of $145 million. This is the third time when Flipkart is investing in Ninjacart.
The investment in Ninjacart will help the company to build technology and infrastructure to organize and enhance the lives of millions of agri-value chain participants, including farmers, retailers, consumers and supply chain participants, an official statement from Flipkart highlighted. Through this funding, the agri-tech company wants to give tough competition to JioMart, Amazon India, Tata-owned BigBasket and others.
“Ninjacart India is at a cusp of formalising the agriculture industry, with the advent to better road connectivity, GST, seamless payments, digital infrastructure, etc. This opens up a tremendous opportunity to organise our agri-ecosystem landscape like never before. We are investing in this huge potential to create value,” commented Thirukumaran Nagarajan, Co-Founder and CEO, Ninjacart on the funding.
Ninjacart founded by Thirukumaran Nagarajan, Kartheeswaran K K, Ashutosh Vikram, Sharath Loganathan, and Vasudevan Chinnathambi is six-year-old company that enables retailers and restaurants to source fresh produce directly from farmers at competitive prices and also delivers it to businesses, including mandis.