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Buoyant After Latest Fundraise From Flipkart, Ninjacart To Invest $25 Million In Emerging Agri-Tech Startups
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Fresh produce supply chain startup Ninjacart has set aside $25 million that it will invest in new agri-tech startups, Economic Times reports.
The company will be using this fund to make seed investments in startups and entrepreneurs who present unique, sustainable and tech-enabled solutions.
Back in December 2021, Flipkart and its parent Walmart had invested $145 million in Ninjacart. The e-commerce company had reportedly claimed that it is the biggest deal in the agri-tech space at the time.
On its latest venture called ‘Agri Seed Funds’, Niinjacart’s co-founder and CEO Thirukumuran Nagarajan said, “Joining forces with Ninjacart will open windows for emerging enterprises, allowing them to access valuable data, supply chain infrastructure, technology, farmers, and existing partners.”
Nagarajan added, “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.”
Ninjacart procures fresh vegetables and fruits directly from the farmers and delivers them to hotels, restaurants, retailers and also apartment complexes.
Flipkart aims to capitalise on its investment in Ninjacart to strengthen the e-commerce giant’s ‘grocery footprint and offerings’. The company will leverage this venture as it plans to expand its 90-minute online grocery business ‘Flipkart Quick’ to 200 cities by the end of 2022.
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