Walmart and Flipkart invest in agri-tech supply chain startup Ninjacart

December 11 2019: Walmart and Flipkart today announced a joint investment in Ninjacart, the agri-tech startup with business-to-business (B2B) supply chain infrastructure and technology solutions.

‘Best Price’, the B2B e-commerce platform of Walmart India and ‘Supermart’, the online grocery business of Flipkart can now have access to Ninjacart's direct sourcing of fresh produce, while start-up plans to go for new cities. The three companies together plans to deliver fresh produce directly from farmers to retailers and consumers in India.

Kalyan Krishnamurthy, CEO, Flipkart Group, said, “As a homegrown e-commerce company, it is in our DNA to drive change and solve complex local problems in-house through technology. Developing Flipkart Supermart over the past year, we have focused on creating the right infrastructure, supporting local farmers, producers and food processors, and building sustainability into the ecosystem, all while creating thousands of new jobs and bringing quality, convenience and value to consumers. In Ninjacart, we see a company that shares our values, our pioneering mindset and our commitment to tech-driven innovation that improves life in India.”

Founded in 2015, Ninjacart moves over 1,400 tons of fresh produce every day through its paperless supply chain that connects 44,000 farmers and 60,000 kirana stores and restaurants in seven cities with more than 200 collection centres and 1,200 warehouses. The start-up used in-house algorithms, big data, predictive analytics, mobile applications and the Internet of Things (IoT) to build this supply chain.

“Ninjacart provides 100% traceability along the supply chain and has slashed food wastage to less than 1%, compared to 35% in traditional supply chains. Ninjacart works closely with its farmer partners to ensure a reliable supply of high-quality produce that aligns with market need. It provides data-driven recommendations on what crops to grow and communicates accurate pre-harvest price and demand and pricing information to help create clarity around farmer earnings. Over the last two years, Ninjacart has been able to improve the net realized income of its farmers by 15%, with payments made into farmer bank accounts within 24 hours of produce pickup,”says the release.

Thirukumaran Nagarajan, CEO and Co-founder of Ninjacart, commented, “Ninjacart wants to make food safer and more accessible, while ensuring a fair price for everyone involved. We are excited that Flipkart and Walmart are joining us to make this vision a reality and showing confidence in our technology and business model. With their support, we see new possibilities to improve the lives of our farmers, retailers and restaurant partners.”

Krish Iyer, President and CEO, Walmart India said, “Ninjacart’s focus on direct-from-farm sourcing resonates well with Walmart’s commitment to supporting farmers in India. We are working towards our commitment of sourcing 25% of produce in our Best Price cash-and-carry stores directly from farmers by 2023. This would help accelerate market access for them and reduce transportation costs. Our new partnership with Ninjacart will help us create more opportunities for smallholder farmers and boost rural incomes while also improving access to high-quality produce for all our members including kiranas, hotels, restaurants and businesses around India.”