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Walmart and Flipkart today announced a joint strategic investment in Ninjacart, the start-up that is seeking to disrupt India’s fresh produce market with its B2B supply chain infrastructure and technology solutions. The details of the investment remain undisclosed. The transaction is expected to close by end of 2019.
The investment in Ninjacart will help Walmart and Flipkart strengthen direct sourcing of fresh produce for Walmart India’s Best Price B2B cash-and-carry stores and Flipkart’s online grocery business - Supermart. The investment will also support Ninjacart to expand its customer base, reach new cities and gain exposure to global best practices to enhance the efficiency of the local fresh produce ecosystem.
Founded in 2015, Ninjacart which uses supply chain algorithms developed in-house, leverages big data, predictive analytics, mobile applications and the Internet of Things to power a just-in-time supply chain that connects farmers to retailers via a network of more than 200 collection centers and 1,200 warehouses across India. It moves over 1,400 tons of fresh produce per day, having doubled its volumes in the last four months.
Thirukumaran Nagarajan, CEO and Co-Founder, Ninjacart, said: “Ninjacart wants to make food safer and more accessible, while ensuring a fair price for everyone involved. We are excited that Flipkart and Walmart are joining us to make this vision a reality and showing confidence in our technology and business model. With their support, we see new possibilities to improve the lives of our farmers, retailers and restaurant partners.”
Ninjacart also provides data-driven recommendations to its farmer partners on what crops to grow and communicates pre-harvest price and demand to help create clarity around farmer earnings.
Kalyan Krishnamurthy, CEO, Flipkart Group, said: “As a homegrown e-commerce company, it is in our DNA to drive change and solve complex local problems in-house through technology. In Ninjacart, we see a company that shares our values, our pioneering mindset and our commitment to tech-driven innovation that improves life in India.”
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