Total amount raised
$357.6 Millions
Latest funding date
Location
Ninjacart has successfully raised significant funding through multiple rounds, including a Series D round. The company operates a business-to-business platform that connects farmers, manufacturers, and brands directly to retailers through a streamlined supply chain.
Keep reading to explore the intricacies of Ninjacart's fundraising journey and the investors backing this innovative platform.
What Is Ninjacart?
Ninjacart, founded in July 2015, is a Bengaluru-based agritech company revolutionizing the fresh produce supply chain. The company connects farmers, manufacturers, and brands directly to retailers through a streamlined platform.
Founded by Ashutosh Vikram, Kartheeswaran K K, Sachin Jose, Sharath Loganathan, Thiru Nagarajan, Thirukumaran Nagarajan, and Vasu Devan, Ninjacart aims to simplify business challenges at each stage of the pre and post-harvest journey.
With a workforce of 1001-5000 employees, Ninjacart leverages technology and innovation to ensure seamless trade of fresh produce both locally and globally.
How Much Funding Has Ninjacart Raised?
- Series B
- Amount Raised: ₹2.5B
- Date: December 2018
- Lead Investors: Accel, Syngenta Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand operations and enhance technology infrastructure.
- Series C
- Amount Raised: $90M
- Date: April 2019
- Lead Investors: Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale up supply chain operations and enter new markets.
- Series C
- Amount Raised: $10M
- Date: June 2019
- Lead Investors: Not disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further strengthen the supply chain network.
- Series C
- Amount Raised: ₹30M
- Date: July 2019
- Lead Investors: Not disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance logistics and distribution capabilities.
- Debt Financing
- Amount Raised: $4.2M
- Date: November 2019
- Lead Investors: Trifecta Capital Advisors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support working capital needs.
- Series C
- Amount Raised: $10M
- Date: December 2019
- Lead Investors: Flipkart
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and improve technology.
- Corporate Round
- Amount Raised: $30M
- Date: October 2020
- Lead Investors: Flipkart, Walmart
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance supply chain efficiency and expand product offerings.
- Venture Round
- Amount Raised: $9.5M
- Date: May 2021
- Lead Investors: Syngenta Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support technological advancements and market expansion.
- Series D
- Amount Raised: $145M
- Date: December 2021
- Lead Investors: Flipkart, Walmart
- Valuation at Round: $800M
- Motivation Behind the Round: To bolster operations and support growth initiatives.
- Series D
- Amount Raised: ₹698M
- Date: May 2022
- Lead Investors: STIC Investment
- Valuation at Round: $812M
- Motivation Behind the Round: To scale operations and enhance technological infrastructure.
Total amount raised: $338.7M
Current valuation: $812M
Key Investors
- Flipkart
- Details: Flipkart is an Indian e-commerce company headquartered in Bengaluru. It is a subsidiary of Walmart, which acquired a 77% stake in the company in 2018.
- Investment Focus Areas: E-commerce, technology, logistics.
- Notable Investments: Myntra, PhonePe, Ekart.
- Walmart
- Details: Walmart is a multinational retail corporation based in the United States. It operates a chain of hypermarkets, discount department stores, and grocery stores.
- Investment Focus Areas: Retail, e-commerce, supply chain management.
- Notable Investments: Flipkart, Jet.com, Bonobos.
- Tiger Global Management
- Details: Tiger Global Management is an American investment firm that focuses on public and private companies in the global Internet, software, consumer, and financial technology industries.
- Investment Focus Areas: Technology, e-commerce, fintech.
- Notable Investments: Facebook, LinkedIn, Spotify.
- Accel
- Details: Accel is a venture capital firm that invests in early-stage and growth-stage technology companies. It has offices in Palo Alto, California, and London.
- Investment Focus Areas: Technology, internet, software.
- Notable Investments: Facebook, Dropbox, Slack.
- Syngenta Ventures
- Details: Syngenta Ventures is the venture capital arm of Syngenta, a global agribusiness company. It focuses on investments in innovative agricultural technologies.
- Investment Focus Areas: Agriculture, biotechnology, sustainability.
- Notable Investments: Agrinos, Greenlight Biosciences, Sound Agriculture.
What's Next for Ninjacart?
Ninjacart stands at the cusp of significant growth opportunities. With plans to scale Flipkart Quick to 200 cities and strengthen Supermart, the company is poised to expand its market reach substantially. The $25 million Agri Seed Fund will enable Ninjacart to invest in innovative agritech startups, fostering a collaborative ecosystem that can drive further advancements in the industry.
Future fundraising efforts are likely to attract continued interest from major stakeholders like Flipkart and Walmart, as well as new international investors. However, Ninjacart will need to navigate challenges such as competition from other agritech startups and managing the complexities of scaling operations across multiple cities. Ensuring consistent quality and supply of fresh produce will be crucial as they expand their footprint.
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