Walmart invests $50 million into Bengaluru-based B2B startup Ninjacart

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Ninjacart, a Bengaluru-based B2B agritech startup, has bagged an investment worth $50 million (approx ₹347 crore) from Walmart, a global retailer giant, reported Inc42, citing ET.

The startup would receive a first tranche of $10 million in the next three weeks and that the US retail company would get a board seat in Ninjacart.

“At present, we run 500 small trucks and 150 big trucks — now we need to grow our capacity by 10-20 times to include 5000 small trucks and 1000 big trucks. Currently, we are in seven Indian cities including Bengaluru, Chennai, Hyderabad, Delhi NCR, Pune, Ahmedabad, and Mumbai. With these new fundings, we want to expand our reach in three more cities from northern and western parts of India,” Thirukumaran Nagarajan, co-founder at Ninjacart, said.

Ninjacart, based out of Bengaluru, was founded by Nagarajan, Kartheeswaran K K, Ashutosh Vikram, Sharath Loganathan and Vasudevan Chinnathambi in 2015.
The company picks up the produce directly from the farmer’s fields and delivers it to the businesses. The platform claims to have perfected its sourcing and operations for achieving scale and lowering costs.
It also claims to source fruits and vegetables from farmers across more than 20 Indian states and deliver to over 17,000 local kiranas and restaurants in seven Indian cities daily.

Other players operating in the B2B commerce space include Lal10, an online marketplace that connects artisans with bulk buyers, Wholesalebox, an online wholesale marketplace.

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