Ninjacart, a fresh producesupply chain startup, announced on Friday that it had put aside $25 million to invest in future agri-tech firms. Ninjacart’s Agri Seed Funds will make seed investments in firms and entrepreneurs “that propose novel, sustainable, and tech-enabled solutions,” according to the company.
“In addition, Ninjacart will invest in teams that have great tech abilities but may lack a solution or an idea at the moment,” the company said in a press release.
Other than investing capital, Ninjacart said it will also give startups access to the agri-platforms’ technology infrastructure, data pools and growth-stage advisory support.
“Joining forces with Ninjacart will open windows for emerging enterprises allowing them to access valuable data, supply chain infrastructure, technology, farmers, and existing partners,” said Thirukumuran Nagarajan, co-founder and CEO. “The startups will be introduced to VCs, angel investors, and incubators. The procedure would be simple, allowing early-stage entrepreneurs to turn their concepts into concrete action on ground.”
Following a $145 million investment by Flipkart and its parent firm Walmart in December, the seed fund was announced. According to the ecommerce company at the time, it is the largest deal in the agri-tech market.
Ninjacart, which was founded in 2015, is now available in seven cities: Bengaluru, Chennai, Hyderabad, Pune, Delhi, and Mumbai. Fresh fruits and vegetables are purchased directly from farmers and distributed to merchants, hotels, restaurants, and even housing complexes.
The company said that it will further invest in the technology of its own operations.
“Recent investments by Walmart and Flipkart have broadened the company’s goal of creating a digital agri-ecosystem, allowing all agri-players, including farmers, resellers, retailers, consumers, and supply chain participants, to buy and sell fresh produce in a transparent manner,” the company said in the press release.
