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Flipkart: Walmart, Flipkart Group pump in further funding in Ninjacart

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NEW DELHI: Walmart and Flipkart Group on Monday introduced a contemporary spherical of funding in Bengaluru-based business-to-business (B2B) provide chain firm Ninjacart. The firms, nevertheless, didn’t disclose the quantity being invested. The transaction is anticipated to shut by the top of the month.

In the approaching months, Ninjacart will use the capital to increase to new markets and construct new choices and provide chains for rising buyer segments, whereas persevering with to innovate on the availability chain to make it extra environment friendly, dependable, and worthwhile, a press release mentioned.

“This follows the investment made by Walmart and the Flipkart Group in December 2019, as the companies continue to focus on ensuring access to high quality fresh produce for consumers and retailers while creating economic opportunities for farmers through the continued use of technology,” it added.

For Ninjacart, this additional deepens the partnership with Walmart and the Flipkart Group to enhance its choices and improve buyer expertise, it mentioned. “As Flipkart grows its Supermart (grocery) and Flipkart Quick (hyperlocal business), Ninjacart will continue to play a key role in providing fresh produce to consumers across the country as they increasingly look at e-grocery to meet their needs,” it added.

Ninjacart was based by Thirukumaran Nagarajan, Kartheeswaran Okay Okay, Ashutosh Vikram, Sharath Loganathan and Vasudevan Chinnathambi in 2015. Its traders embrace Tiger Global, Accel, Tanglin, Steadview, Syngenta, Nandan Nilekani and Qualcomm, amongst others.

During the COVID-19 lockdowns, Ninjacart had launched a sequence of initiatives reminiscent of house supply, together with a ‘Farm to fork’ pilot with Flipkart, buyer supply by means of meals supply apps, ‘Harvest the Farms’ initiative, amongst others. It had additionally launched ‘FoodPrint’, a 100 per cent traceability platform for its merchandise, in the course of the lockdown to enhance meals security.

Flipkart Group CEO Kalyan Krishnamurthy mentioned the e-grocery market in India has seen super progress over the previous a number of months as individuals have more and more taken to ordering groceries and contemporary produce on-line.

“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,” he added.

Nagarajan, CEO and co-founder of Ninjacart, mentioned the contemporary set of investments from Walmart and Flipkart Group takes the corporate one step nearer to its imaginative and prescient of creating meals secure and accessible for a billion individuals and altering the best way meals reaches the plate. “We will continue to invest in areas that impact the lives of customers and farmers positively,” he added.





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