What is Ninjacart? Ninjacart Review

Founding

Ninjacart's parent company is 63Ideas Infolabs Pvt. Ltd., and its co-founders are Kartheeswaran KK, Nagarajan, Sharath Loganathan, Ashutosh Vikram, Sachin PJ and Vasudevan Chinnathambi. In the early days of its establishment, they were just an online platform for hyperlocal department stores, and then gradually shifted their business focus to the B2B field, aiming to help large supermarkets, retailers and restaurants to purchase vegetables, fruits and other agricultural products directly from farms. Not only that, Ninjacart helps farmers sell their crops directly to large supermarkets, retailers and restaurants, allowing farmers to achieve huge profits.

Business Scope

Ninjacart's business has currently expanded to seven major cities including Bangalore, Mumbai, Delhi, Chennai, Hyderabad, Pune and Ahmedabad. Its products come from more than 150 Indian villages, it serves 60,000 merchants, and cooperates with 20,000 farmers, and delivers 1,400 tons of fresh products every day.

Financing

In March 2016, Ninjacart received US$3 million in Series A funding from investors including Accel Partners, Qualcomm Ventures and M&S Partners.

In April 2017, NinjaCart received US$5.5 million in Series B funding from existing investors including Accel Partners, NRJN Trust, Mistletoe, Qualcomm Ventures and M&S Partners.

In March 2018, B2B agricultural marketing platform Ninjacart announced that it had completed a venture capital investment of 70 million rupees (about 1.1 million US dollars) from Trifecta Capital.

In August 2018, Ninjacart announced the completion of a new round of financing of US$4.9 million, led by Accel Partnershe NRJN Trust, and participated by Mistletoe, a well-known Japanese investment company.

In November 2018, agricultural product marketing and logistics delivery platform NinjaCart announced that it was about to complete a new round of financing of US$20-25 million. According to an unnamed source, the lead investor in this round of financing may be Accel Partners, which had previously invested in the company. A new investment company will also participate in this round of investment, but the source did not disclose the specific situation of this investment company.

In April 2019, agricultural e-commerce service platform NinjaCart announced that it had completed a US$90 million Series C financing round. The investor was Tiger Global Management, a well-known New York venture capital firm. This is also the largest amount of money they have invested in Indian startups to date.

In July 2019, B2B agricultural product marketing platform Ninjacart announced that it had received a new round of financing of 30 million rupees (about 437,000 US dollars). The investor was Clark Valberg, founder of digital product design platform inVisible onapp Inc.

In August 2019, Indian agricultural technology startup Ninjacart announced that it had completed a new round of financing of US$50 million from retail giant Walmart.

In December 2019, Indian agricultural technology startup Ninjacart announced that it had received an investment from Walmart and Flipkart. Although the specific amount was not disclosed, according to people familiar with the matter, the amount of this investment was approximately US$50 million.

In January 2020, agricultural e-commerce startup Ninjacart announced that it had completed a Series C financing of 718.3 million rupees (approximately US$10 million). The co-lead investors were local e-commerce giant Flipkart India and Singapore's GEC3, and Minute Kataria participated in the investment.

References

• 1. Ninjacart received approximately US$50 million investment from Walmart and Flipkart: Baijiahao [cited on 2019-12-11T16:00:00.000Z]
• 2. B2B agricultural marketing platform Ninjacart completes new round of financing of US$4.9 million: ebrun [cited on 2018-07-31T16:00:00.000Z]
• 3. NinjaCart completes $90 million Series C financing: Zhudao [cited date 2019-04-22T16:00:00.000Z]
• 4. Indian B2B agricultural platform Ninjacart received $5.5 million in financing: ebrun [cited on 2017-04-11T16:00:00.000Z]