Ramping up their stakes in business-to-business (B2B) supply chain infrastructure provider Ninjacart, Walmart and Flipkart have invested more capital in the Bengaluru-based company.
This would be the second infusion from Walmart-Flipkart in Ninjacart. In August last year, the retail giant and Flipkart had announced a $50 million round in Ninjacart.
While the duo didn’t disclose the quantum of the fresh investment, an ET report estimated that they will infuse $30 million in Ninjacart. It will use the fresh capital to expand to new markets and build new offerings and supply chains for emerging customer segments, according to Walmart and Flipkart’s joint press release.
The investment will help Flipkart to strengthen its grocery vertical in both B2B and B2C segments. Apart from consumer-centric e-grocery platform Flipkart Supermart, the company is set to launch a procuring platform for kirana stores soon.
Ninjacart would also play a crucial role to grow its hyperlocal business Flipkart Quick.
“We will continue to make investments to offer the best produce to our customers and support livelihoods and sustainable growth for local farmers, producers and the supply chain ecosystem. Our pilots and current business engagement with Ninjacart have been encouraging as we leverage technology to address changing consumer behaviour across the country,” said Kalyan Krishnamurthy, CEO, Flipkart Group.
Backed by the likes of Tiger Global, Ninjacart is one of the best-funded startups in this segment. The firm directly buys from the farmers and supplies straight to the retailers through its network of collection centres and distribution hubs.
WayCool and Crofarm are the closest competitors of Ninjacart. However, their scale is limited and Ninjacart is far ahead of the duo.