As India’s e-grocery market grows, Walmart-owned Flipkart announced on Monday that it will invest $145 million in agritech startup Ninjacart, which has helped over 1,00,000 farmers in 150 areas increase their revenue. The third round of financing will empower millions of agri-value chain participants, including farmers, resellers, retailers, consumers, and supply chain participants.
According to the company, the third round of financing will empower millions of agri-value chain participants, including farmers, resellers, retailers, consumers, and supply chain participants. Over the last two years, Ninjacart has made major investments in technology platforms and supply chain infrastructure.
“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,” said Kalyan Krishnamurthy, CEO, Flipkart Group.
Flipkart already sells groceries in 1,800 cities and towns, with plans to expand to 2,000 more by the middle of next year. The expansion will include fresh fruits and vegetables, with the company investing in technology to assure the highest and most stringent quality checks for the final consumer.
“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,” said Thirukumaran Nagarajan, Co-founder, and CEO, Ninjacart.
Ninjacart and the Union Ministry of Agriculture and Farmer Welfare signed a Memorandum of Understanding earlier this year to increase market linkages and promote best practises in the farming sector.
