Flipkart, Walmart pump $145mn into Ninjacart

New Delhi: Flipkart India and Walmart on Monday said they have invested $145 million in fresh produce supply chain company Ninjacart.

In October last year, Walmart and Flipkart Group had pumped in an undisclosed amount of funding in the Bengaluru-based company. This investment will further accelerate Ninjacart's journey towards building technology and infrastructure to organise, empower and enhance the lives of millions of Agri value chain participants including farmers, resellers, retailers, consumers, and supply chain participants, a statement said.

"The investment of $145 million from Flipkart and Walmart further validates and strengthens Ninjacart's vision to ensure better access to high-quality fresh produce for more retailers and consumers across India while also creating economic opportunities and better incomes for farmers in India," it added. Ninjacart was founded by Thirukumaran Nagarajan, Kartheeswaran K K, Ashutosh Vikram, Sharath Loganathan, and Vasudevan Chinnathambi in 2015. It has raised funds from investors like Tiger Global, Accel, Tanglin, Steadview, Syngenta, Nandan Nilekani, and Qualcomm, among others. "As a homegrown company, we have constantly focused on creating the right infrastructure and technological solutions that support local farmers, producers, and food processors. 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," Flipkart Group Chief Executive Officer Kalyan Krishnamurthy said.