NEW DELHI: US-based retailer Walmart Inc and Flipkart Group on Monday announced an investment of $145 million in agritech start-up Ninjacart. The Indian e-commerce firm claimed it to be the biggest deal in India’s agritech space.
This is the third time Flipkart has invested in Ninjacart. The deal would peg the Bengaluru-based start-up’s valuation at $750-800 million.
As a home-grown company, the company has constantly focused on creating the right infrastructure and technological solutions that support local farmers, producers, and food processors, said Kalyan Krishnamurthy, CEO, Flipkart Group.
“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.”
“Our investment and partnership in Ninjacart over the years is a testament to the continued commitment and success we have seen in our endeavour to create a democratic and organised agriculture market,” he added.
The companies said the investment will accelerate Ninjacart’s journey towards building tech and infrastructure to organise, empower and enhance the lives of millions of agri value chain participants.
E-commerce major Flipkart offers grocery in 1,800 cities & towns and aims to take its offering to 2,000 more towns by mid-next year, it said.