Flipkart, Walmart invest $145 million in Agritech platform Ninjacart
Summary
Founded by Thirukumaran Nagarajan, Kartheeswaran K K, Ashutosh Vikram, Sharath Loganathan, and Vasudevan Chinnathambi in 2015, Ninjacart has raised funds from investors like Tiger Global, Accel, Tanglin, Steadview, Syngenta, Nandan Nilekani, and Qualcomm, among others. With this investment, we are further able to strengthen our grocery footprint and offering as consumers across the country throng to e-grocery for quality and affordable options in the fresh category," Flipkart Group Chief Executive Officer Kalyan Krishnamurthy said. He further said that Flipkarts investment and partnership in Ninjacart over the years is a testament to the continued commitment and success it has seen in the endeavour to create a democratic and organised agriculture market. Fresh fruits and vegetables will be an integral part of the expansion, with the company investing in technology capabilities to ensure the highest and most stringent quality checks for the end consumer. Earlier this year, Ninjacart signed an MoU (Memorandum of Undersatinding) with the Union Ministry of Agriculture and Farmer Welfare to strengthen the market linkages and promote best practices in the farming sector.
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