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Flipkart & Walmart invest $145mn in Ninjacart
December 15, 2021
Flipkart and Walmart have announced a strategic investment worth $145mn in fresh produce supply chain Ninjacart. This is the third time Flipkart has invested in Bengaluru based company.
While Ninjacart did not disclose any further details of the transaction including valuation, the organization was valued at over $500mn during its latest transaction in May this year.
The investment will further empower millions of agri-value chain participants, including farmers, sellers, retailers, consumers, and supply chain participants. Flipkart will also strengthen its grocery footprint and offerings.
Currently, Flipkart offers groceries in 1800 cities and towns and aims to take its offering to 2,000 more towns by next year.
Ninjacart works closely with the farmers and has to date helped over 1,00,000 farmers across 150 rural areas to generate better revenues.
Besides Walmart and Flipkart, Ninjacart had also raised funds from the likes of Tiger Global, Accel, Tanglin, and Qualcomm.
The company directly competes with Waycool and Vegrow. While Vegrow already raised $13mn in July this year, Waycool is accelerating for a larger round.
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