Ninjacart launches $25 Mn worth fund to back agritech startups

Fresh produce supply chain company Ninjacart has launched an Agri Seed Fund worth $25 million to support emerging and new-age startups in the agriculture sector.

With this, Ninjacart will make seed investments in startups, entrepreneurs and tech innovators who present unique, sustainable and tech-enabled solutions. In addition, Ninjacart will invest in teams that have great tech abilities but may lack a solution or an idea at the moment.

Founded by Thirukumaran Nagarajan, Kartheeswaran K K, Ashutosh Vikram, Sharath Loganathan, and Vasudevan Chinnathambi, seven-year-old Ninjacart enables retailers and restaurants to source fresh produce directly from farmers at competitive prices and also delivers it to businesses, including mandis.

Ninjacart works closely with the farmers and claims to have helped over 1,00,000 farmers across 150 villages to generate better revenues.

In December last year, the Bengaluru-based company had raised $145 million from Walmart and Flipkart. As per Fintrackr’s estimates, Ninjacart was valued at around $815 million during the round.