India’s Ninjacart, which brings high tech solutions such as supply chain infrastructure to the nation’s produce market, has received new funding from existing investors Walmart and Flipkart Group. Neither the investors nor Ninjacart disclosed the amount invested.
The investment further strengthens Ninjacart’s partnership with Walmart and Flipkart to improve its reach and customer experience. At the same time, it can be considered a highly profitable move as ecommerce saw a huge jump in sales, specifically grocery items, due to the pandemic.
Ninjacart launched a series of initiatives during the lockdown such as food delivery through ‘Harvest the farms’ initiative, bringing farmers and customers closer. Also, launched ‘Food print’ – a traceability platform for its products to improve the food safety.
In August of this year, Flipkart launched Flipkart Wholesale, a B2B platform for small businesses and stores. The fashion-centric service also includes credit offerings for retailers. Ninjacart has developed many native solutions that work for India in scale.
It has built India’s low-cost last-mile network utilizing an innovative network model combined with data science. Its less-than-12-hours connectivity from farm to shop helps prevent the need for a controlled temperature distribution chain for perishable goods. Walmart and Flipkart also invested in Ninjacart in December 2019, focusing on grocery and fresh produce segments.
The e-grocery market in India has seen tremendous growth over the past several months. 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. – said Kalyan Krishnamurthy, CEO of Flipkart Group
Ninjacart’s investors, along with Walmart and The Flipkart Group, comprise Tiger Global, Accel, Tanglin, Steadview, Syngenta, Nandan Nilekani, and Qualcomm.
The investment from Walmart and Flipkart will help Ninjacart reach a step closer to its mission of making food safe and accessible for billions of people. While Walmart and Flipkart will continue to focus on providing high-quality products to customers and contributing to economic opportunities for farmers through the usage of technology.