Walmart and Flipkart invest in Ninjacart again to bump up its grocery offerings ahead of the festive season
- After their first investment in December 2019, Walmart and Flipkart have once again invested in grocery startup
- The Bengaluru-based Ninjacart was founded in 2015 by Thirukumaran Nagarajan, Kartheeswaran K K, Ashutosh Vikram, Sharath Loganathan and Vasudevan Chinnathambi.
- The investment from Flipkart also comes at a time when the e-grocery space in India is heating up with Mukesh Ambani-backed JioMart’s entry.
AdvertisementE-commerce giants Walmart and Flipkart have once again invested in online grocery startup Ninjacart. The investment follows their first round from December 2019.
The investment from Flipkart also comes at a time when the e-grocery space in India is heating up with Mukesh Ambani-backed JioMart’s entry.
“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,” said Kalyan Krishnamurthy, CEO, Flipkart Group in a statement.
Ninjacart has the supply chain where it leverages big data, predictive analytics, mobile applications and the Internet of Things to connect farmers with marketplaces. The startup also claims to have built an indigenous “less-than-12 hours connectivity from farm to store” to keep perishable goods from getting spoilt during transport. With the latest funding, the company now plans to expand to newer markets.
The Bengaluru-based Ninjacart was founded in 2015 by Thirukumaran Nagarajan, Kartheeswaran K K, Ashutosh Vikram, Sharath Loganathan and Vasudevan Chinnathambi.
“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,” Thirukumaran Nagarajan, CEO & Co-founder of Ninjacart said in a statement.
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