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, staples and FMCG goods directly from farmers and brands.
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.