Flipkart, Walmart invest $145 million in Ninjacart in online grocery push

Bengaluru: Ninjacart, a provide chain firm for contemporary produce, has raised $145 million from Flipkart and its US-based mum or dad Walmart Inc., in what the Indian e-commerce agency claimed was the most important deal in India’s agritech house.

That is the third time Flipkart is investing in Ninjacart.

ET
was the first to report on the likely transaction that may peg Ninjacart’s valuation at $750-800 million. The deal comes at a time when Flipkart is scaling its 90-minute online grocery enterprise — Flipkart Quick — to 200 cities by the tip of 2022.

“With this funding, we’re additional capable of strengthen our grocery footprint and providing as shoppers throughout the nation throng to e-grocery for high quality and reasonably priced choices within the contemporary class,” Flipkart’s CEO Kalyan Krishnamurthy stated.

The funds will permit Ninjacart to look past organising the farmer-to-retailer ecosystem and obtain a a lot bigger purpose of organising the agri ecosystem and enabling clear commerce, cofounder Thirukumaran Nagarajan stated.

“We’re ecstatic that Flipkart and Walmart proceed to accomplice with us in making this imaginative and prescient a actuality by believing in our technological experience and core values,” he stated.

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