<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

<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>With <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword> Quick, the company will now deliver groceries, phones, stationery, electrical appliances, and more – within 90 minutes. </li><li>Flipkart Quick will begin operations in select locations in Bengaluru.</li><li>Flipkart’s hyperlocal foray comes at a time when the sector has seen the entry of <keyword id="8506093" type="UNKNOWN" weightage="20" keywordseo="Jiomart">JioMart</keyword> – Reliance’s bet on e-commerce, and already had the presence of the likes of Google-backed <keyword id="3275685" type="PERSON" weightage="20" keywordseo="dunzo">Dunzo</keyword>, SoftBank-backed <keyword id="2466939" type="PERSON" weightage="20" keywordseo="Grofers">Grofers</keyword>, and <keyword id="964794" type="COMPANY" weightage="20" keywordseo="BigBasket">BigBasket</keyword>.</li></ul>Indian e-commerce giant Flipkart’s latest offering is in the <keyword id="2917849" type="PERSON" weightage="20" keywordseo="Hyperlocal-delivery">hyperlocal delivery</keyword> space. With Flipkart Quick, the company will now deliver groceries, phones, stationery, electrical appliances, and more – within 90 minutes. Charging a minimum delivery fee of ₹29, customers can choose 2-hour slots or get their orders within 90 minutes between 6 am and midnight. Flipkart Quick will begin operations in select locations in Bengaluru – Whitefield, Panathur, HSR Layout, BTM Layout, Banashankari, KR Puram, and Indiranagar. “While we start with our dark store (no walk-in) model, wherein we enable sellers to store inventory close to the consumer; this model has the potential of encouraging local entrepreneurship and enabling new business strategies and partnerships. Today, with Flipkart Quick - our Hyperlocal capability, we have the potential to bring together the whole network of neighbourhood Kirana stores onto our platform with just a click,” said Sandeep Karwa, Vice-President, Flipkart. This adds to the string of latest releases from Flipkart – it recently bought out Walmart’s India business, forayed into social commerce with its refurbished goods platform 2GUD and also acquired a stake in Arvind Fashion for ₹260 crore. However, Flipkart’s hyperlocal foray comes at a time when the sector has seen the entry of JioMart – Reliance’s bet on e-commerce, and already had the presence of the likes of Google-backed Dunzo, SoftBank-backed Grofers, and BigBasket. Been in the making for over a year Flipkart has been making several bets to ready its hyperlocal delivery service. In December 2019, Flipkart had invested in logistics platform Shadowfax. Kalyan Krishnamurthy, chief executive officer, Flipkart had then said that the partnership with Shadowfax will help build a strong foundation for hyperlocal deliveries, by including kirana stores. In the same month, Flipkart and Walmart had invested an undisclosed amount in the fresh produce delivery startup Ninjacart. In May 2019, the e-commerce company had launched Flipkart Supermart to foray into grocery delivery. SEE ALSO: <a href="https://www.businessinsider.in/business/ecommerce/news/reliance-is-building-up-its-retail-empire-ahead-of-future-deal-reliance-brands-adds-zivame-in-its-cart/articleshow/77215871.cms">Reliance is building up it’s retail empire – ahead of Future deal, Reliance Brands adds Zivame in its cart</a> <a href="https://www.businessinsider.in/business/auto/news/maruti-suzuki-india-first-quarter-preview-sales-and-share-price-chart/articleshow/77216142.cms">Maruti is getting bigger in a shrinking market</a>

Flipkart offers 90-minute delivery as competition from JioMart, Dunzo, BigBasket heats up

51 start-ups from India likely to become unicorns in three years

<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

(Eds: Updates with order withdrawn) New Delhi, Mar 26 () Hours after allowing several online retail firms to re-start their delivery services, the Delhi police on Thursday withdrew its previous order with "immediate effect", officials said.The police had issued a statement directing its personnel to allow persons and vehicles engaged in essential services to operate in Delhi and listed names of retailers and online delivery services that should be allowed to function.However, the order was withdrawn with immediate effect hours after it was issued, stating that the revised guidelines will be released and all traffic, picket and beat staff would be briefed accordingly.The police did not cite any reason for withdrawing its previous order, but a senior police official said essential supplies would continue and a uniform order across states would be issued soon.This comes a day after the Delhi police held a meeting with representatives of e-commerce platforms to ensure uninterrupted supply of essential goods and services during the 21-day lockdown enforced to contain the spread of the novel coronavirus.Zomato, Flipkart, Amazon, 24Seven, Blue Dart, DTDC, Wow Express, Swiggy, Grofers, BigBasket, MilkBaasket, Dunzo, Big Bazaar, Snapdeal, Licious, Medlife, Pharmeasy, UrbanClap, Ninjacart, Honsa Conumer Pvt. Limited, Healthians Diagnostics, Delhivery Pvt Limited, Nutrimoo Milk Dairy, More Retail Limited, Easyday, Jabong, Myntra, Spencer's, Reliance Fresh, Jubilant Food Works, Foodpanda, Faaso's, Pizza Hut, Uber Eats, Needs Supermart Pvt Limited, 1MG, Dr. Lal Path Labs, Max-Path, Satvacart, Iifco and other e-commerce retailers and operators were allowed to function in the national capital, according the now-withdrawn order.Police have set up a platform on WhatsApp for e-commerce websites to solve their issues and delivery agents were being issued passes for hassle-free movement.The government announced a 21-day nationwide lockdown since Wednesday, saying social distancing is the only way out for the country in its decisive battle against the coronavirus pandemic.The novel coronavirus cases in the country climbed to 649 on Wednesday. The death toll has reached 13, according to the Union Health Ministry. Delhi has reported 36 cases, with one death. AMP ABHABH

Delhi police withdraws order allowing online retail firms to re-start services

<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></colgroup><col /><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

Agri-startups can offer tech solutions to keep food supply chain rolling amid COVID-19 crisis: Study

<ul><li><keyword id="80487" type="COMPANY" weightage="20" keywordseo="walmart">Walmart</keyword> has put a halt to its expansion plans in India — sacking nearly 56 employees. </li><li>The retailer is shedding brick and mortar weight as it sees no scope in placing physical stores in the country and may go online with <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword>. </li><li>The development comes in the backdrop of Reliance <keyword id="8506093" type="UNKNOWN" weightage="20" keywordseo="Jiomart">JioMart</keyword>’s debut in the ecommerce space. </li><li>The company’s wholesale business has been suffering losses. The company recorded accumulated losses of ₹2,181 crore as of March 2019, as per Economic Times report.</li></ul>American retail giant Walmart has put a halt to its expansion plans in India — sacking nearly 56 employees. This is almost a third of its senior talent pool. "We are looking for ways to operate more efficiently, which requires us to review our corporate structure to ensure that we are organized in the right way. As part of this review, we have let go 56 of our associates across levels at the corporate office. All of the 56 impacted associates -- 8 in the senior management and 48 in the middle and lower management -- have been offered enhanced severance benefits and outplacement services to support their transition.” said Krish Iyer, President &amp; CEO, Walmart India. The retailer sees little scope in adding physical stores in the country. It may put more weight behind Flipkart — which it bought for ₹1.13 lakh crore in 2018. This is as rival Reliance JioMart’s made its debut in the ecommerce space. “It’s happening because focus is shifting to e-commerce rather than physical (stores),” said the company. The American multinational reportedly laid off executives including vice presidents across verticals — agri business, FMCG and real estate — at its Gurgaon headquarters. More exits are expected in three months time. However, the company has denied the anticipations regarding more layoffs. "A report appearing in the section of the Press speculating second round of layoffs in April is baseless and incorrect.," it said. It also plans to shut a fulfillment centre in Mumbai as the company’s wholesale business is suffering losses. The company recorded accumulated losses were at a massive ₹2,181 crore as of March 2019, as per Economic Times report. Walmart’s exit from physical stores coincides with Flipkart’s expansion to the food retail segment in India. Flipkart FarmerMart is aimed to sell local products online — directly to consumers. Yet another online-physical combine - Amazon and Future Retail too are bunching their strategies together as they prepare for an onslaught from India’s richest man - Mukesh Ambani and his ostentatious plans to merge his digital capabilities with Jio to his retail venture, JioMart. "Our members are increasingly becoming omni-channel shoppers. We are thus investing heavily in technology and have a healthy pipeline of Best Price stores. This will provide our members a true omni-channel and convenient shopping experience in the future.," Walmart said. Walmart entered wholesale business in India in 2007 with the Bharti Group. It currently runs 28 'Best Price' Modern Wholesale Stores — selling to small shopkeepers — across the country. The retail major has over 5,000 employees in India — including 600 based at its head office, Business Standard <a href="https://www.business-standard.com/article/companies/walmart-india-fires-around-50-executives-as-part-of-restructuring-report-120011300200_1.html">reported citing sources</a>. See also: <a href="https://www.businessinsider.in/business/ecommerce/news/jiomart-launch-date-january-26-mukesh-ambani-ecommerce-debut-will-include-electronics/articleshow/73141917.cms">EXCLUSIVE: JioMart will launch mobile phones and electronics on January 26 and soon, everything under the sun in e-commerce</a> <a href="https://www.businessinsider.in/business/ecommerce/news/walmart-and-flipkart-invest-in-ninjacart-that-has-1200-warehouses-for-grocery-delivery/articleshow/72468829.cms">Walmart and Flipkart invest in Ninjacart that has 1,200 warehouses for grocery delivery</a> <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-raises-a-whopping-28-3-billion-from-its-singapore-based-parent/articleshow/72348456.cmshttps://www.businessinsider.in/business/ecommerce/news/flipkart-raises-a-whopping-28-3-billion-from-its-singapore-based-parent/articleshow/72348456.cms">Walmart-owned Flipkart invests ₹28.3 billion into its India unit</a>

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

Sanchita Dash

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

Sanchita Dash

Flipkart offers 90-minute delivery as competition from JioMart, Dunzo, BigBasket heats up

Sanchita Dash

51 start-ups from India likely to become unicorns in three years

Anagh Pal

Flipkart IPO may reportedly happen overseas in November 2022

Kritti Bhalla

Delhi police withdraws order allowing online retail firms to re-start services

PTI

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

BI India Bureau

Agri-startups can offer tech solutions to keep food supply chain rolling amid COVID-19 crisis: Study

PTI

Walmart sheds brick and mortar weight as it plans to go online with Flipkart

Prerna Sindwani