Walmart and Flipkart invest in Ninjacart that has 1,200 warehouses for grocery delivery
Flipkartalong with its parent Walmarthave jointly invested an undisclosed amount in the fresh produce delivery startup Ninjacart.
- Ninjacart has the supply chain where it leverages leverages big data, predictive analytics, mobile applications and the Internet of Things to connect farmers with marketplaces.
- Ninjacart has 200 collection centers and 1,200 warehouses across India, through which it moves over 1,400 tons of fresh produce per day.
AdvertisementIndian e-commerce giant Flipkart along with its parent Walmart have jointly invested an undisclosed amount in the fresh produce delivery startup Ninjacart.
Ninjacart has the supply chain where it leverages leverages big data, predictive analytics, mobile applications and the Internet of Things to connect farmers with marketplaces.
The investment in this startup comes in line with Flipkart’s recent efforts to go hyperlocal in different segments. In May 2019, the e-commerce company had launched Flipkart Supermart which was its foray into delivering groceries.
“It is in our DNA to drive change and solve complex local problems in-house through technology. Developing Flipkart Supermart over the past year, we have focused on creating the right infrastructure, supporting local farmers, producers and food processors, and building sustainability into the ecosystem, all while creating thousands of new jobs and bringing quality, convenience and value to consumers,” said Kalyan Krishnamurthy, CEO, Flipkart Group.
Ninjacart has 200 collection centers and 1,200 warehouses across India, through which it moves over 1,400 tons of fresh produce per day.
The Bengaluru-based Ninjacart was founded in 2015 by Thirukumaran Nagarajan, Kartheeswaran K K, Ashutosh Vikram, Sharath Loganathan and Vasudevan Chinnathambi.
“Ninjacart’s focus on direct-from-farm sourcing resonates well with Walmart’s commitment to supporting farmers in India. We are working towards our commitment of sourcing 25% of produce in our Best Price cash-and-carry stores directly from farmers by 2023. This would help accelerate market access for them and reduce transportation costs,” said Krish Iyer, President and CEO, Walmart India.
Flipkart has been on an acquisition and investment spree as it closes 2019. It recently led the $60 million funding round in logistics platform Shadowfax. In November, Flipkart invested in EasyRewardz, a customer engagement and rewards platform.
In March 2019, Flipkart launched an early stage startup fund. According to the company, the fund’s investments will focus on companies working in areas related to e-commerce, FinTech, payments and complementary spaces.
Amazon and Flipkart have the same strategy when it comes to wooing India's 20 million small business owners
Flipkart picks up stake in Shadowfax the startup which will help it go hyperlocal
Popular on BI
- Coffee Maker - Best coffee machine for home in India
- Although FII flows have reversed, retail investor confidence remains low thanks to macro concerns
- Brain-dead woman's organs save four lives
- Goa hotels recorded the best occupancies and earned more too says report
- Best tech gifts for your sisters this Rakhi