Ninjacart raises $100 Million funding from Tiger Global

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Ninjacart

27 Apr 2019
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Ninjacart has raised $100 million in funding from Tiger Global. We source fruits and vegetables from farmers across 20+ Indian states and deliver to 17,000+ local kiranas and restaurants in 7 major Indian cities daily in less than 12 hours.

Ninjacart is a Pioneer in the tech-driven supply chain space for fresh vegetables and fruits in India. Over the last 3 years, our made-for-India technology and India centric solutions have disrupted the way fruits and vegetables move from farm to consumer plate. Today, farmers have seen their income go up by 15 to 20% and retailers don’t have to go local mandis and spend 4 hours procuring vegetables and fruits and consumers are able to get hygienically handled (single touch) quality produce.

Our current sourcing network of collection centers and farmers across 20+ Indian states, help procure items from “Best possible source” in terms of price and quality - leading to low cost for retailers and consumers.

Ninjacart has gone one step further and built a 100% traceable supply chain — a far cry from India’s traditional supply chain grappling with inefficiencies and zero food security. For example, we can trace back the produce at a retail store to the farm and farm inputs to guarantee food security.

Our unfair advantage comes from the rich data we have collected over the last four years - daily prices, demand data, supply data, market factors, transaction and behavioral data . This gives unique power to build robust forecasting models and pricing engine to manage market volatility effectively, create certainty on farmer earnings and reduce the price shock for end consumers. Also the robust transaction history and behavioral data of thousands of farmers, retailers and truck drivers are leveraged to build a credit platform linked to Ninjacart services.

We are continuously innovating across the supply chain and building cutting edge solutions to minimize the time from farm to store, since the only way to keep the produce fresh in India, is to move it faster. We were also able to reduce food wastage in our supply chain to less than 1% as compared to the 40% wastage in the traditional supply chains - this is made possible by data driven recommendations to farmers on what to grow, when to grow and communicating the exact demand and price even before the harvest begins.

Thirukumaran Nagarajan, CEO & Co-founder of Ninjacart  — “Our vision is to make food safe and affordable for the billion people and change the way it reaches our plates. We are extremely excited to have Tiger Global part of our vision. It opens up new possibilities and opportunities to build valuable and world-class solutions to complex supply chain problems. Our focus will be to make the ninjacart innovation accessible to more farmers, retailers, restaurants and consumers and leverage our strengths to innovate for new product categories”

We want to extend our world-class supply chain capabilities to solve more complex supply chain problems. Our aim is to make the ecosystem more efficient and reliable while improving income for farmers and making food lot safer and affordable for Indian consumers. We also plan to leverage the existing assets and capabilities to launch and add value to new product categories and take Ninjacart innovation to 12M+ Retailers and restaurants in India in the coming years.

Subrata Mitra, Partner at Accel India and the first one to back Ninjacart — “I am excited at the future prospect of Ninjacart. We at Accel have partnered with category-defining companies such as Flipkart, Swiggy, and others from their very inception; each of them built on the back of world-class innovation, superlative execution & cutting-edge technology. I think Ninjacart is poised to be such a transformational company on the Indian B2B commerce side. We welcome Tiger Global on the journey ahead”

With today’s funding round, we plan to build capacity to serve million plus retailers and restaurants, launch new product categories and ramp up the teams significantly.