Walmart and Flipkart will jointly invest in Bengaluru-based supply chain startup Ninjacart. To strengthen their direct sourcing of fresh produce, Walmart and Flipkart announced this joint strategic investment.
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, Flipkart said in a statement.
“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,” said Thirukumaran Nagarajan, CEO and co-founder of Ninjacart.
Founded in May 2015 by Thirukumaran Nagarajan, Sharath Loganathan, Sachin Jose, Kartheeswaran KK and Vasudevan Chinnathambi, Ninjacart is an agritech startup that sources groceries, fruits and vegetables directly from farmers and supplies these to supermarkets and kirana stores. It’s also moved into the fast-moving consumer goods (FMCG) segment, procuring from big brands and selling to store owners and other resellers.