Ninjacart gets fresh investment from Walmart, Flipkart Group

The new round of investments follows the investment made by Walmart and Flipkart in December 2019. Ninjacart said it will use the capital to expand to new markets and build new offerings and supply chains for emerging customer segments while continuing to innovate on the supply chain to make it more efficient, reliable, and profitable.

Walmart and its Indian subsidiary Flipkart Group on Monday announced a fresh round of investment in Ninjacart, a Bengaluru based startup that leverages technology to source fresh produce from farmers and deliver them to retailers and businesses across India. The transaction is expected to close by the end of October 2020.

This second round of funding demonstrates Walmart and the Flipkart Group's continued commitment to invest in India's agriculture and food supply chain and strong confidence in Ninjacart. The follow-on investment further validates Ninjacart's strong execution capabilities and its ability to innovate in the challenging fresh food supply chain space, Walmart and Flipkart said in a joint statement.

The new round of investments follows the investment made by Walmart and Flipkart in December 2019. Ninjacart said it will use the capital to expand to new markets and build new offerings and supply chains for emerging customer segments while continuing to innovate on the supply chain to make it more efficient, reliable, and profitable.

As online shopping gained momentum during COVID1-9 lockdowns, Ninjacart launched a series of initiatives such as apartment delivery, including a "Farm to fork" pilot with Flipkart, customer delivery through food delivery apps, "Harvest the Farms" initiative, etc. to help both producers and consumers. The company also launched FoodPrint, a 100% traceability platform for its products to improve food safety.

"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. We are excited to have Walmart and the Flipkart Group show confidence in our capabilities around growth and profitability. We will continue to invest in areas that impact the lives of Customers and Farmers positively," said Thirukumaran Nagarajan, CEO & Co-founder of Ninjacart.