Ninjacart secures Rs 250 Cr Series B round led by Accel US and Syngenta Ventures

Ninjacart, an online B2B marketplace that connects farmers and brands to retailers has raised Rs 250 crore in Series B round led by Accel Partners and Switzerland-based Syngenta Ventures.

New investors Neoplux, Jo Hirao (Founder of ZIGExN), HR Capital and all existing investors--Accel India, Nandan Nilekani, Mistletoe and Qualcomm Ventures and venture debt firm Trifecta Capital also participated in the round.

In March, Trifecta had infused $1.1 million in debt in the Bengaluru-based agritech startup.

The fresh proceeds will be used to expand to new geographies, strengthen the product and technology team and ramp up the supply chain infrastructure.

Launched as a hyperlocal grocery delivery company in 2015, Ninjacart pivoted to become a full-fledged B2B marketplace in just seven months of operation.

It essentially helps supermarkets, kirana stores, and standalone shops to procure fresh fruits and vegetables directly from farmers.

NinjaCart currently has a sourcing network of more than 3000 farmers across south India and moves fresh produce from farm to 4,000 retailers every day. The startup is targetting a network of nearly 10,000 retailers by March next year.

Operational in Bengaluru, Hyderabad, and Chennai, Ninjacart has a sourcing network of more than 3000 across south India and it claims to moves fresh produce from farm to over 4000 retailers on a daily basis.

With the fresh funding, it is also aiming to expand to 10 cities and treble its distribution centres to 200 across the country, said the company's press statement.

A brainchild of Thirukumaran Nagarajan, Vasudevan Chinnathambi, Kartheeswaran K K, Sachin Jose, and Sharath Loganathan, Ninjacart competes with Crofarm, FarmLink, Gobasco, and Farm Taaza.