The financial details of investment was not disclosed.
B2B agri-marketplace Ninjacart, has raised money in a follow-on round of funding from US retail giant Walmart Inc and its Indian e-commerce arm Flipkart.
The Company will utilise the capital to expand to new markets and build new offerings and supply chains for emerging customer segments, said the Bengaluru-based firm, in press statement.
“The e-grocery market in India has seen tremendous growth over the past several months as people have increasingly taken to ordering groceries and fresh produce online,” said Kalyan Krishnamurthy, CEO at Flipkart Group.
Ninjacart stated that the company has introduced several initiatives during the initial months of the pandemic to help customers and it will continue to play a key role in providing fresh produce as Flipkart grows its Supermart (grocery) and Flipkart Quick (hyperlocal business).
Ninjacart has secured more than $150 million so far overall. Its other investors include venture capital firms Accel, US-based Qualcomm Ventures, Russia’s HR Capital, Japanese venture capital firm-cum-accelerator Mistletoe, Infosys co-founder Nandan Nilekani’s NRJN Trust and South Korea-based Neoplux, the venture arm of Doosan Corp.
