Bengaluru : , Dec 13, 2013 – As Indian e-grocery gains momentum, Flipkart owned by Walmart announced Monday that it will invest $145 Million in Ninjacart, an agritech startup which has already helped more than 1,00,000.Farmers in 150 villages in India to earn better revenue.According to the company, the third round will provide additional support for millions of participants in the agri-value chains, which includes farmers, wholesalers, retailers and consumers.
Ninjacart invested heavily in supply chain infrastructure and tech platforms over the last two years.
According to Kalyan Krishnamurthy (CEO, Flipkart Group), “With this investment we are further in a position to strengthen our grocery footprint”
Flipkart sells grocery products in over 1,800 towns and cities.It plans to expand its offerings to more than 2,000 towns and cities by the middle of next year.
Fresh fruits and vegetables will be an integral part of the expansion, with the company investing in technology capabilities to ensure the highest and most stringent quality checks for the end 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.
Earlier this year, Ninjacart inked an MoU with the Union Ministry of Agriculture and Farmer Welfare to strengthen the market linkages and promote best practises in the farming sector.
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