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Flipkart-backed Ninjacart announces $25 mn fund to invest in agritech start-ups

Flipkart-backed Ninjacart announces $25 mn fund to invest in agritech start-ups

With an aim to boost tech innovation and accelerate disruption, Ninjacart will make seed investments in start-ups, entrepreneurs and tech innovators who present unique, sustainable and tech-enabled solutions

Flipkart backed Ninjacart has announced a $25 million fund to invest in agritech startups Flipkart backed Ninjacart has announced a $25 million fund to invest in agritech startups

Flipkart-backed agritech start-up Ninjacart today launched a $25 million fund to support emerging and new-age start-ups in the agriculture sector. With an aim to boost tech innovation and accelerate disruption, Ninjacart will make seed investments in start-ups, entrepreneurs and tech innovators who present unique, sustainable and tech-enabled solutions. In addition, Ninjacart will invest in teams that have great tech abilities but may lack a solution or an idea at the moment.

The announcement comes as part of the agri-tech giant’s larger effort to accelerate the advancement of the agricultural landscape, the startup said in an official handout.

In December 2021, Flipkart and Walmart announced a $145 million investment into the fresh produce supply chain start-up, which also marked the third time Flipkart invested in the firm.

The capital infusion is intended to serve as a strong push for innovative ideas and company models that aim to solve high-priority problems in the global agricultural ecosystem. Along with capital support, Ninjacart will also lend these budding start-ups access to the agri-platforms extensive technology infrastructure and data pools as well as growth-stage advisory support.

“Ninjacart has come a long way and now we wish to give back to the system by investing in new ideas and teams that are working hard to bring about change. As a company, it has always been our ambition to strengthen the global agricultural ecosystem and are eager to empower tomorrow's leaders. By assisting the next generation of entrepreneurs and small businesses it is our endeavour to grow together, building a future that is sustainable and built on a strong foundation of productive collaboration,” said Thirukumaran Nagarajan, co-founder and CEO, Ninjacart.

“Joining forces with Ninjacart will open windows for emerging enterprises allowing them to access valuable data, supply chain infrastructure, technology, farmers, and existing partners. The startups will be introduced to VCs, angel investors, and incubators. The procedure would be simple, allowing early-stage entrepreneurs to turn their concepts into concrete action on ground,” Nagarajan added.

The company is further aiming to invest in state-of-the-art technology in its own operations. Recent investments by Walmart and Flipkart have broadened the company’s goal of creating a digital agri-ecosystem, allowing all agri-players, including farmers, resellers, retailers, consumers, and supply chain participants, to buy and sell fresh produce in a transparent manner, the company said.

Published on: Mar 04, 2022, 6:13 PM IST
Posted by: Bismah Malik, Mar 04, 2022, 6:09 PM IST