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Online fruits and vegetable marketplace Ninjacart has raised Rs 7 crore venture debt from Trifecta Capital, it said in a statement.
Ninjacart, which owns and operates 63Ideas Infolabs Pvt. Ltd. said that it will use the funds to invest in capital expenditure and strengthen the supply chain infrastructure of the company.
The company said that it processes more than 150 tonnes of fruits and vegetables per day in Bangalore. "We need to prepare our company for the next level of growth, and this necessitates investments in developing both our technology and physical infrastructure. Already nearing a city level break even in Bangalore, we are well equipped to raise debt capital, and Trifecta has helped us ideally structure our financing needs.”, said Thirukumaran Nagarajan, CEO & Co-founder of 63Ideas Infolabs Pvt. Ltd.
“At Trifecta, we have always been mindful of the opportunity in F&V logistics. Ninjacart has done a great job in delivering fresh produce to retailers efficiently, while removing non value-adding middlemen to improve the earnings realised by farmers. We are excited to help them get even bigger and better in their journey, as they use our debt to invest in fulfilment, collection and distribution centres.”, said Nilesh Kothari, Co-Founder of Trifecta Capital.
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