Bengaluru - December 13, 2021: Flipkart India and Walmart today announced a fresh round of joint strategic investment in Ninjacart. The investment of US$145 million further validates and strengthens Ninjacart's vision to organize the agriculture ecosystem, ensure better access to high-quality fresh produce for more retailers and consumers, and create economic opportunities & better incomes for farmers in India.
This investment will accelerate Ninjacart's journey toward building technology and infrastructure to organize, empower, and enhance the lives of millions of agri value chain participants, including farmers, resellers, retailers, consumers, and supply chain participants. Ninjacart has been investing significantly in tech platforms and supply chain infrastructure over the past two years.
Kalyan Krishnamurthy, CEO, Flipkart Group, said that this investment further strengthens Flipkart's grocery footprint and offering, as consumers increasingly flock to e-grocery for quality and affordable fresh produce. He added that the investment allows them to bring great efficiencies in the value chain and provide the farming community additional opportunities for better income. Flipkart is committed to building a sustainable ecosystem for fresh produce.
Flipkart and Ninjacart's Reach and Initiatives
Flipkart Grocery Expansion: Flipkart offers grocery in 1,800 cities & towns and aims to take its offering to 2,000 more towns by mid-next year. Fresh fruits and vegetables will be an integral part of this expansion.
Quality and Technology: Flipkart is investing in technology capabilities to ensure the highest and most stringent quality checks for the end consumer. Digitisation can help ensure the quality of food from the nascent stage and throughout the agricultural life cycle.
Farmer Producer Organizations (FPOs): Flipkart is focusing on partnering with FPOs to provide access to high-quality fresh produce, staples, pulses, and spices, bringing new revenue opportunities to farmer communities across the country.
Ninjacart's Impact: Ninjacart has worked closely with farmers and has helped over 100,000 farmers across 150 villages to generate better revenues. Ninjacart's supply chain technology has helped solve distribution inefficiency and price risk.
Agri Marketplace Platform (AMP): Ninjacart's role is to create and host the AMP, which will allow farmers to earn a fair price for their output, offer consumers better food, and create value for all players.
Government Collaboration: Earlier in 2021, Ninjacart signed an MoU with the Union Ministry of Agriculture & Farmer Welfare to strengthen market linkages and promote best practices in the farming sector.
Walmart Foundation Support: The Walmart Foundation committed $25 million over 5 years in 2018 and has already allocated $15 million in grants to support farmers market access programs.
Thirukumaran Nagarajan, Co-founder, and CEO, Ninjacart, said the funds will enable them to organize the complete agri ecosystem and enable transparent commerce. The funds will be deployed to build world-class teams and scalable tech platforms to organize and grow the network.
About the Flipkart Group
The Flipkart Group is one of India's leading digital commerce entities and includes group companies Flipkart, Myntra, Flipkart Wholesale, Flipkart Health+ and Cleartrip. The Group is also a majority shareholder in PhonePe. Started in 2007, Flipkart has a registered customer base of more than 400 million, offering over 150 million products across 80+ categories. Flipkart is known for pioneering services such as Cash on Delivery, No Cost EMI and easy returns.
For more information, please contact media@flipkart.com.
