Bengaluru, October 12: Ninjacart, a Bengaluru-headquartered supply chain platform got a major business boost after the firm got a fresh investment from Walmart, Flipkart group. Ninjacart sources fresh produce directly from farmers and quickly delivers them to retailers and businesses. This investment follows the one made by Walmart and the Flipkart Group in December 2019, as the companies continue to focus on ensuring access to high quality fresh produce for consumers and retailers. According to a report by IANS, this is the second round of funding comes at a time when Flipkart is focusing on growing its Supermart (grocery) and Flipkart Quick (hyperlocal business).
Launched in 2015, Ninjacart had earlier raised money from top funds such as Tiger Global, Accel, Tanglin, Steadview, Syngenta, Nandan Nilekani and Qualcomm, among other prominent investors. Thirukumaran Nagarajan, CEO & Co-founder of Ninjacart said that 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.
Kalyan Krishnamurthy, CEO, Flipkart Group, said in a statement said that 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”, Krishnamurthy said.
In the months to come, Ninjacart will use the capital to expand to new markets and build new offerings and supply chains for emerging customer segments, reports said. The firm while continue to innovate on the supply chain to make it more efficient, reliable, and profitable. The transaction is expected to close by the end October, Walmart and the Flipkart Group said, without disclosing the financial details.