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<ul><li>After their first investment in December 2019, Walmart and Flipkart have once again invested in grocery startup <keyword id="2946840" type="PERSON" weightage="20" keywordseo="Ninjacart">Ninjacart</keyword>. </li><li>The Bengaluru-based Ninjacart was founded in 2015 by Thirukumaran Nagarajan, Kartheeswaran K K, Ashutosh Vikram, Sharath Loganathan and Vasudevan Chinnathambi.</li><li>The investment from Flipkart also comes at a time when the e-grocery space in India is heating up with Mukesh Ambani-backed JioMart’s entry.</li></ul>E-commerce giants Walmart and Flipkart have once again invested in online grocery startup Ninjacart. The investment follows their first round from December 2019. The investment from Flipkart also comes at a time when the e-grocery space in India is heating up with Mukesh Ambani-backed JioMart’s entry. “The e-grocery market in India has seen tremendous growth over the past several months as people have increasingly taken to ordering groceries and fresh produce online. 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,” said Kalyan Krishnamurthy, CEO, Flipkart Group in a statement. Ninjacart has the supply chain where it leverages big data, predictive analytics, mobile applications and the Internet of Things to connect farmers with marketplaces. The startup also claims to have built an indigenous “less-than-12 hours connectivity from farm to store” to keep perishable goods from getting spoilt during transport. With the latest funding, the company now plans to expand to newer markets. The Bengaluru-based Ninjacart was founded in 2015 by Thirukumaran Nagarajan, Kartheeswaran K K, Ashutosh Vikram, Sharath Loganathan and Vasudevan Chinnathambi. “The fresh set of investments from Walmart and the Flipkart Group takes us one step closer to our vision of making food safe and accessible for the billion people and changing the way food reaches our plate,” Thirukumaran Nagarajan, CEO &amp; Co-founder of Ninjacart said in a statement. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/razorpay-is-the-latest-to-join-the-unicorn-club-with-its-new-100-million-fundraise/articleshow/78612631.cms">Razorpay is the latest to join the unicorn club with its new $100 million fundraise</a> <a href="https://www.businessinsider.in/policy/economy/news/sitharaman-offers-states-12000-crore-interest-free-for-the-next-50-years-if-they-can-spend-it-on-capital-projects-by-march-2021/articleshow/78616741.cms">Sitharaman offers states ₹12,000 crore interest-free for the next 50 years if they can spend it on capital projects by March 2021</a>

Walmart and Flipkart invest in Ninjacart again to bump up its grocery offerings ahead of the festive season

New Delhi, Dec 11 () US retail giant Walmart and Flipkart on Wednesday said they will jointly invest in Bengaluru-based business-to-business (B2B) supply chain company, Ninjacart.
The three partners aim to help ensure better access to high-quality fresh produce for retailers and consumers across India while also creating economic opportunities for farmers, a statement said. 
 The company however did not disclose the financial details of the transaction.
 "Partnering with 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," it added. 
The investment will also support Ninjacart to expand its customer base, reach new cities and gain exposure to global best practice to enhance the efficiency of the local fresh produce ecosystem, the statement added.
 Ninjacart was founded by Thirukumaran Nagarajan, Kartheeswaran K K, Ashutosh Vikram, Sharath Loganathan and Vasudevan Chinnathambi in 2015.
In the past, Ninjacart has raised money from funds such as Tiger global, Accel partners, Steadview Capital, Syngenta Ventures, Qualcomm ventures and Infosys co-founder Nandan Nilekani. 
 Ninjacart connects farmers to retailers via a network of more than 200 collection centres and 1,200 warehouses across India. It moves over 1,400 tonnes of fresh produce per day.
It has over 44,000 farmer suppliers and a customer base of 60,000 kirana stores and restaurants across seven cities. 
"Developing Flipkart Supermart over the past year, we have focused on creating the right infrastructure, supporting local farmers, producers and food processors, and building sustainability into the ecosystem," Flipkart Group CEO Kalyan Krishnamurthy said. 
 Thirukumaran Nagarajan, CEO and Co-founder of Ninjacart, said with the support of Flipkart and Walmart, the company sees new possibilities to improve the lives of its farmers, retailers and restaurant partners.
The transaction is expected to close by the end of the month. 
 "Ninjacart's focus on direct-from-farm sourcing resonates well with Walmart's commitment to supporting farmers in India. We are working towards our commitment of sourcing 25 per cent of produce in our Best Price cash-and-carry stores directly from farmers by 2023," Walmart India President and CEO Krish Iyer said.
The investment, he said, will help accelerate market access for farmers and reduce transportation costs. SR DRR

Walmart, Flipkart invest in Bengaluru-based Ninjacart

Almost one in five of India’s future unicorns drop off the race as funding winter bites

<ul><li><keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword> along with its parent <keyword id="80487" type="COMPANY" weightage="20" keywordseo="walmart">Walmart</keyword> have jointly invested an undisclosed amount in the fresh produce delivery startup <keyword id="2946840" type="PERSON" weightage="20" keywordseo="Ninjacart">Ninjacart</keyword>.</li><li>Ninjacart has the supply chain where it leverages leverages big data, predictive analytics, mobile applications and the Internet of Things to connect farmers with marketplaces. </li><li>Ninjacart has 200 collection centers and 1,200 warehouses across India, through which it moves over 1,400 tons of fresh produce per day. </li></ul>Indian e-commerce giant Flipkart along with its parent Walmart have jointly invested an undisclosed amount in the fresh produce delivery startup Ninjacart. Ninjacart has the supply chain where it leverages leverages big data, predictive analytics, mobile applications and the Internet of Things to connect farmers with marketplaces. The investment in this startup comes in line with Flipkart’s recent efforts to go hyperlocal in different segments. In May 2019, the e-commerce company had launched Flipkart Supermart which was its foray into delivering groceries. “It is in our DNA to drive change and solve complex local problems in-house through technology. Developing Flipkart Supermart over the past year, we have focused on creating the right infrastructure, supporting local farmers, producers and food processors, and building sustainability into the ecosystem, all while creating thousands of new jobs and bringing quality, convenience and value to consumers,” said Kalyan Krishnamurthy, CEO, Flipkart Group. 
	
 
 
 
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 Ninjacart has 200 collection centers and 1,200 warehouses across India, through which it moves over 1,400 tons of fresh produce per day. The Bengaluru-based Ninjacart was founded in 2015 by Thirukumaran Nagarajan, Kartheeswaran K K, Ashutosh Vikram, Sharath Loganathan and Vasudevan Chinnathambi. “Ninjacart’s focus on direct-from-farm sourcing resonates well with Walmart’s commitment to supporting farmers in India. We are working towards our commitment of sourcing 25% of produce in our Best Price cash-and-carry stores directly from farmers by 2023. This would help accelerate market access for them and reduce transportation costs,” said Krish Iyer, President and CEO, Walmart India. Flipkart has been on an acquisition and investment spree as it closes 2019. It recently led the $60 million funding round in logistics platform Shadowfax. In November, Flipkart invested in EasyRewardz, a customer engagement and rewards platform. In March 2019, Flipkart launched an early stage startup fund. According to the company, the fund’s investments will focus on companies working in areas related to e-commerce, FinTech, payments and complementary spaces. See Also: <a href="https://www.businessinsider.in/business/ecommerce/news/amazon-and-flipkart-have-the-same-strategy-when-it-comes-to-wooing-indias-20-million-small-business-owners/articleshow/72394851.cms">Amazon and Flipkart have the same strategy when it comes to wooing India's 20 million small business owners</a> <a href="https://www.businessinsider.in/business/startups/news/flipkart-picks-up-stake-in-shadowfax-the-startup-which-will-help-it-go-hyperlocal/articleshow/72385539.cms">Flipkart picks up stake in Shadowfax the startup which will help it go hyperlocal</a>

Walmart and Flipkart invest in Ninjacart that has 1,200 warehouses for grocery delivery

<ul><li>National Bank for Agriculture And Rural Development (<keyword id="6360385" type="UNKNOWN" weightage="20" keywordseo="nabard">NABARD</keyword>) has announced a $100 million fund for <keyword id="6362513" type="UNKNOWN" weightage="20" keywordseo="startups">startups</keyword>. </li><li>According to reports, the new fund will look into equity investments in “asset-light, innovative, technology-led start-ups in its focus areas”. </li><li>India’s <keyword id="1366179" type="PERSON" weightage="20" keywordseo="Agritech">agritech</keyword> startups have been growing fast and securing quick investments in the past few years. </li></ul>India’s agritech and rural startups just got a huge boost with the government-owned National Bank for Agriculture And Rural Development (NABARD) <a href="https://www.thehindubusinessline.com/economy/agri-business/nabventures-launches-maiden-fund-to-back-agri-food-and-rural-start-ups/article27116329.ece">announcing</a> a $100 million fund for startups. Until now, NABARD had been instrumental in providing <keyword id="6356305" type="UNKNOWN" weightage="20" keywordseo="funds">funds</keyword> to startups through other funds. In January 2019, NABARD had announced the launch of NABVENTURES Ltd, which functions as its venture capital arm. According to <a href="https://www.thehindubusinessline.com/economy/agri-business/nabventures-launches-maiden-fund-to-back-agri-food-and-rural-start-ups/article27116329.ece">reports</a>, the fund will look into equity investments in “asset-light, innovative, technology-led start-ups in its focus areas” that is agriculture, food and rural development space. Agriculture is the most important contributing industry to the Indian economy, however, a problem that has persisted has been the lack of technologically sound advancements in the field. Farmers have had issues in various fields – dealing with the middlemen menace, storage of crops, surveillance etc. And here’s where agritech startups come in. Over the years, India has seen a growth in the number of agritech startups, which has also led to VCs and accelerator programs turn their focus to the sector, given that it caters to a large part of India’s population. This has resulted in agritech startups coming under the spotlight for investments and more. Recently, Ninjacart, an agritech supply-chain startup, got an $89 million funding in a Series C round from a marquee investor like Tiger Global. Now, with a focused fund coming in from the government’s NABARD, it will only boost the sector. See Also: <a href="https://www.businessinsider.in/blackbuck-raises-150-million-offers-employees-to-liquidate-stocks-upto-25/articleshow/69139508.cms">This Indian startup’s latest funding is also going to make its employees rich</a>

India’s state agricultural bank NABARD has a $100 million fund for startups

<ul><li><keyword id="6354742" type="General" weightage="20" keywordseo="flipkart" source="Orion">Flipkart</keyword> wants to do the IPO before March 2023, CEO Kalyan Krishnamurthy reportedly said.</li><li>Scaling the grocery business would be a critical part of the journey towards Flipkart’s public listing. </li><li>The company is also looking to raise the pre-IPO round in the January-March quarter next year.</li></ul>Walmart-owned ecommerce giant Flipkart will go for an initial public offering (IPO) in November or December 2022, the company’s group chief executive (CEO) Kalyan Krishnamurthy has reportedly said. There is also a chance that the <keyword id="3123061" type="General" weightage="20" keywordseo="flipkart-ipo" source="Orion">Flipkart IPO</keyword> may be pushed to March 2023 due to external factors like inappropriate market conditions, Krishnamurthy reportedly told a select group of executives earlier this week in an offsite meeting. The development was <a href="https://www.businessinsider.in/business/news/byjus-swiggy-and-dream11-the-top-10-startup-deals-of-2021-that-raised-7-7-billion-overall/slidelist/88121451.cms#slideid=88121586">reported </a>by The Economic Times (ET). He reportedly added that scaling the grocery business would be a critical part of the journey towards the public listing. This may be a reason why Flipkart increased its shareholdings in <a href="https://www.businessinsider.in/business/startups/news/walmart-owned-flipkart-invests-145-million-in-agritech-startup-ninjacart/articleshow/88268882.cms">fresh produce supply chain company NinjaCart </a>earlier this week. As per the report, Flipkart is looking at a possible overseas listing. The company is also reportedly looking to raise a pre-IPO round in the January-March quarter next year in order to benchmark its valuation before it hits the public market. Business Insider has reached out to Flipkart seeking confirmation on the same. The Bengaluru-based company had raised <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-raises-3-6-billion-at-a-valuation-of-over-37-billion/articleshow/84338594.cms">$3.6 billion in July this year</a>, at a valuation of $37.6 billion. The round was led by Singapore-based GIC, Canada Pension Plan Investment Board (CPP investments), Softbank Vision Fund 2 and <keyword id="80487" type="General" weightage="20" keywordseo="walmart" source="Orion">Walmart</keyword>. Tiger Global and Qatar Investment Authority, among other marquee investors also participated in the round. Walmart had acquired 77% shares in Flipkart in 2018, giving exits to founders Binny and Sachin Bansal, subsequently. The US-based retail giant currently holds 75% shareholding in Flipkart. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/grofers-founder-explains-why-he-rushed-to-rebrand-the-startup-and-his-plans-seem-ambitious/articleshow/88320706.cms" data-type="tilCustomLink">INTERVIEW: Grofers founder explains why he rushed to rebrand the startup and his plans seem ambitious</a> <a href="https://www.businessinsider.in/business/startups/news/indias-most-valuable-startup-may-go-public-in-us-at-48-billion-valuation/articleshow/88318989.cms" data-type="tilCustomLink">Byju’s insider says the US SPAC offer values company at $48 billion</a> <a href="https://www.businessinsider.in/business/startups/news/ola-raises-half-a-billion-dollars-in-debt-to-fuel-its-food-delivery-and-quick-commerce-dream/articleshow/88314624.cms">Ola raises half a billion dollars in debt to fuel its food delivery and quick commerce dream</a>

Flipkart IPO may reportedly happen overseas in November 2022

<ul><li>After reports of <keyword id="8555" type="CITY" weightage="20" keywordseo="Tata">Tata</keyword>’s partnership with Walmart to build a super app, it now plans to bolster its e-commerce play with a 50% stake in <keyword id="964794" type="COMPANY" weightage="20" keywordseo="BigBasket">BigBasket</keyword>. </li><li>The deal could also see the <keyword id="6355725" type="ORGANIZATION" weightage="20" keywordseo="tata-group">Tata Group</keyword> buy out Chinese giant Alibaba’s stake in BigBasket, said a report by Economic Times. </li><li> India’s richest man Mukesh Ambani also has big dreams in the grocery sector with his e-commerce bet – <keyword id="8506093" type="UNKNOWN" weightage="20" keywordseo="Jiomart">JioMart</keyword>. </li></ul>The 152-year conglomerate TATA Group is racing ahead with its e-commerce dreams as the Indian online retail market grows by leaps and bounds. After reports of Tata’s partnership with Walmart to build a super app, its plans to bolster its e-commerce play through acquisitions are getting stronger. The BigBasket chase According to a report by <a href="https://economictimes.indiatimes.com/tech/technology/bigbasket-in-talks-to-sell-majority-stake-to-tata-group/articleshow/78902595.cms">ET</a>, Tata is now eyeing a 50% stake in BigBasket – India’s leading online grocery startup. With the reported acquisition, the Tata group could shell out $500-$700 million and could also potentially buy out Chinese giant Alibaba’s stake in BigBasket, said the report. BigBasket has not yet officially commented on the reports. According to <a href="https://timesofindia.indiatimes.com/business/india-business/temasek-to-back-bigbasket-in-400mn-round/articleshow/78372845.cms">reports</a>, BigBasket was also looking to raise $300-$400 million in funds as demand grew for online grocery. BigBasket, the first grocery unicorn in the country, has seen a massive uptick in orders and users during the coronavirus lockdown. BigBasket saw a 3-6 fold increase in demand, its CEO Hari Menon had said on Twitter in April. A majority stake in BigBasket would give the Tata Group enough ammunition to take on major players like <keyword id="18635" type="CITY" weightage="20" keywordseo="Amazon">Amazon</keyword> and JioMart. Meanwhile, the group is also said to be in talks with Walmart for a possible <a href="https://www.livemint.com/companies/news/walmart-looks-to-join-hands-with-tatas-11601337906091.html">$25 billion</a> infusion from the American retail giant to build a super app. Everybody wants a piece of the pie India’s online grocery market, which was worth $1.9 billion in 2019, is expected to hit $18 billion by 2024, said a report by RedSeer. One of India’s hottest sectors currently, the online grocery market is seeing increased competition. India’s major e-grocery drivers <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JioMart – supported by Reliance Retail and its acquisition of Future Retail </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Amazon – Amazon Fresh, Amazon Pantry, investment in retail outlet MORE </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Flipkart – Flipkart SuperMart, investment in Ninjacart </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">DMart – DMart Ready </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BigBasket – Recently acquired DailyNinja </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Grofers </td></tr></tbody></table> India’s richest man Mukesh Ambani has big dreams in the grocery sector with his e-commerce bet – JioMart. Although Reliance’s acquisition of Future Retail is currently on hold due to a legal battle with Amazon, Ambani and Future Group are confident of closing the deal to conquer India’s retail segment. The sector also sees rising competition from India’s second richest man Radhakishan Damani whose retail venture DMart is set to ramp up its e-commerce offerings. Damani has also shut down two of its massive stores in Mumbai and converted them into fulfillment centres to speed up e-commerce deliveries. Meanwhile, the online race is heating up with the likes of Amazon, Flipkart, BigBasket, and Grofers, looking to garner a bigger share of the market with acquisition and expansion plans. SEE ALSO: <a href="https://www.businessinsider.in/finance/banks/news/ajay-piramal-believes-that-if-banks-wont-lend-to-long-term-projects-india-will-need-to-revive-the-likes-of-idbi-and-ifci/articleshow/78906135.cms">EXCLUSIVE: Ajay Piramal believes that if banks won't lend to long-term projects, India will need to revive the likes of IDBI and IFCI</a> <a href="https://www.businessinsider.in/business/startups/news/byju-raveendran-on-byjus-us-expansion-and-how-white-hat-jr-wont-just-be-about-coding-anymore/articleshow/78904109.cms">'India can provide teachers to the world, just like software engineers,' says Byju Raveendran as he plans to take his $11 billion edtech startup to US shores</a>

The 152-year old Tata Group is chasing its e-commerce dreams as competition rises from JioMart, Amazon, and others

New Delhi, Apr 30 () Agri-startups, which are growing at 25 per cent year-on-year basis, can offer tech solutions to help Indian farm sector to keep food and farm supply chain rolling during and post lockdown phase, according to a study by industry body Ficci.This becomes more critical amid the ongoing procurement of rabi (winter) crops and consequent sowing of kharif (summer) crops across the country in the backdrop of COVID-19 scare, it said.There are about 450 active agri-startups in India. Many of them are already working to solve the problems at hand, it added.According to the study, agri-tech startup companies have grown 25 per cent year-on-year. They have received venture capital funding of USD 545 million since 2014. out of this, USD 330 million came in 2019.Highlighting agri-tech solutions, the study said agri-startups can provide aggregation and distribution of farm produce from point of collection to consumption centres.Many startups are trying to connect farmers with buyers, including retailers, e-commerce, processors, cloud kitchens and even direct to consumers.Startups working in this area include Ninjacart, Jumbotail, Bigbasket, ShopKirana, SuperZop, WayCool, MeraKisan, Kamatan, DeHaat, KrishiHub, Agrowave, Loop, Crofarm, FreshoKartz, Agribolo, Himkara, Kisan Network.To provide quality assaying of agricultural commodities, startups like Intellolabs, Agricxlab, Zense, Raav Tech, Occipital, Amvicube and Nanopix are attempting to solve the problem of standardisation through mobile imagery and digitisation.To address post harvest challenges, the study said some startups have begun work on near farm, modular and affordable storage and processing solutions.These storage facilities are intended to give farmers an option to sell the produce at the right price and at the right time, instead of immediate or distressed liquidation of their produce after harvest.The startups in this category include Our Foods, Agri Bazaar, Star Agri, Arya Collateral, Ecozen, Origo, it added.For smooth operation of kharif sowing, the study said startups such as Agrostar, BigHaat, Behtar Zindagi, Unnati, Gramophone, Freshokartz, AgriBolo, DeHaat, Bharat Rohan, and Bharat Agr are offering solutions to optimise the use of agricultural inputs and enable delivery to farmers.Agri-startups are trying to build business models to reach out to farmers directly both online as well as through offline presence in the villages. Such startups can play a pivotal role in making sure that farmers get desired inputs in a timely manner, it said.To reduce labour cost through mechanisation, some start-up companies like Sickle innovations, Distinct Horizon, Tractor Junction, Khetibadi and J Farm service are offering mechanisation solutions for harvesting and sowing.In addition, some of the startups have focused on accurate and timely assessment of soil moisture and developing data-driven controlled irrigation models. The startups in this category include Satyukt Analytics, Flybird, Kritsnam, Agrirain, Manna Irrigation, the study added.That apart, some agritech startups can provide farmers advisory for crop monitoring, including institutional credit and crop insurance.CropIn, SatSure, Farmguide, Niruthi, AgRisk, Skymet. Startups like Samunnati, FarMart, Jai-Kisan, PayAgri, Bijak are specifically working in value chain financing.Many of these startups are using satellite images to geotag farms, assess crop health and estimate output. They are also building algorithms for farm monitoring and models for artificial intelligence to automate and improve predictably of yield and farmers' incomes, the study added. LUX BALBAL

You Searched For "ninjacart funding" and got 8 results

Walmart and Flipkart invest in Ninjacart again to bump up its grocery offerings ahead of the festive season

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Walmart, Flipkart invest in Bengaluru-based Ninjacart

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Walmart and Flipkart invest in Ninjacart that has 1,200 warehouses for grocery delivery

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