Flipkart and its US-based parent Walmart have jointly invested an undisclosed amount, their second, in fresh produce supply chain startup Ninjacart.
This comes after Ninjacart had raised INR 71.83 Cr in Series C funding round led by Flipkart India and Singapore-based GEC3 in January. In December 2019, Walmart and Flipkart had announced a joint strategic investment in Ninjacart.
Ninjacart plans to use the capital to expand to new markets and build new offerings and supply chains for emerging customer segments.The transaction is expected to close by the end October 2020, Flipkart said in a press note.
“We will continue to make investments to offer the best produce to our customers and support livelihoods and sustainable growth for local farmers, producers and the supply chain ecosystem. Our pilots and current business engagement with Ninjacart have been encouraging as we leverage technology to address changing consumer behaviour across the country,” said Kalyan Krishnamurthy, CEO, Flipkart Group.