Agri start-up Ninjacart has unveiled a major expansion by inaugurating its new corporate office in Bengaluru, which has a seating capacity of more than 1,000 professionals.
The Walmart-funded Ninjacart, which has transformed itself into an agri-market place from a technology-driven supply chain firm, currently has about 600 employees at its corporate office in Bengaluru.
Ninjacart, which connects farmers with the traders, retailers and exporters, has a presence in about 70 cities. It currently has a team of over 1,300 professionals serving over 20,000 traders and some 2 lakh retailers across the country.
Ninjacart said its strategic expansion is a direct result of its rapid growth, driven by the goal of surpassing ₹4,000 crore in gross merchandise value (GMV) for FY 2024, up from ₹1,600 crore in the previous year. Furthermore, the company’s evolving business model now encompasses new verticals, including commerce and fintech, alongside its core fulfilment operations, the company said in a statement.
Kartheeswaran K K, CEO & Co-Founder of Ninjacart, said “As we evolve our business with new verticals in commerce and fintech, this office space will be a hub of creativity and innovation. In an era of downsizing trends, we embrace the opportunity to grow, increasing our team size and enhancing our ability to make a meaningful impact throughout the agricultural value chain.”
By FY2025, Ninjacart aims to expand into 250 cities across the country and is targetting to expand its reach to some 30 million farmers by FY2030. Ninjacart has so far raised $377 million from investors such as Walmart, Flipkart, Tiger Global, Accel, Syngenta Group Ventures and Nandan Nilekani.