Flipkart has announced its second investment of $30million in a Bengaluru based startup, Ninjacart. Ninjacart is an B2B market place for fresh agricultural products supply. According to the reports Walmart and flipkart has invested $150 million in total.
“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, We will continue to make investments to offer the best produce to our customers and support livelihoods and sustainable growth for local farmers, producers and the supply chain ecosystem.”Krishnamurthy, CEO ,Flipkart
This increased partnership will enhance customer experience of Ninjacart and it’s offering to public. It has also got invest of $90 million from Tiger Global Management which is an US-based investment firm. Ninjacart has got investments of $150 million in total. Some other investors are venture capital firms Accel, US-based Qualcomm Ventures, Russia’s HR Capital, Japanese venture capital firm-cum-accelerator Mistletoe, Infosys co-founder Nandan Nilekani’s NRJN Trust and South Korea-based Neoplux, the venture arm of Doosan Corp.
Walmart and flipkart partnership.
By leading a new $1.2 billion funding round for the Indian e-commerce giant, Walmart has grown majority stake in Flipkart. The Walmart-led equity round, which acquired a majority stake in Flipkart two years ago for $16 billion, values Flipkart at $24.9 billion post-money, the two firms said.
The e-commerce giant had acquired a 100 percent stake in Walmart’s India group, which had a small standalone presence in the country and operated Best Price, a cash and carry company that operates 28 warehouse-club-style stores across the country and has gathered more than 1.5 million customers, to launch the wholesale marketplace, called Flipkart Wholesale.
Details about Ninjacart.
In 2015, Ninjacart, which is operated by 63Ideas Infolabs Pvt Ltd, was established. It originated as a hyperlocal grocery delivery company and then switched to a business-to – business structure. Farmers can sell vegetables and fruit directly through the start-up’s platform to business establishments such as shops, retailers and restaurants. Ninjacart has received interest from strategic players and investors, especially social impact backers, among the several startups in the wider agri-tech sector.
Ninjacart launched a range of projects during the COVID-19 lockdowns, including a ‘Farm to Fork’ pilot with Flipkart, customer distribution via food distribution apps, and the’ Harvest the Farms’ project, among others. In order to enhance food safety, ‘FoodPrint’, a 100% traceability platform for its goods, was also introduced during the lockdown.