“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.
Walmart and Flipkart Group on Monday announced a fresh round of investment in Bengaluru-based start-up Ninjacart. The deal understood to be worth about $30 million is expected to close by the end of this month.
This is the second investment by the companies in Ninjacart. Walmart and Flipkart had first placed their bets on the start-up in December 2019.
Ninjacart’s expertise in sourcing fresh produce from farmers and its swift delivery to business will help Flipkart as it grows its grocery (Supermart) and hyperlocal (Flipkart Quick) businesses.
“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.
“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,” said Kalyan Krishnamurthy, CEO at Flipkart Group.
Ninjacart said it will use the capital to expand to new markets and build new offerings and supply chains for emerging customer segments, while continuing to work on the supply chain to make it more efficient, reliable, and profitable.
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