India’s leading Agritech platform NinjaCart raised INR 250 Cr ($35 Million) in series B funding. The investors participated in this round are Accel Partners (USA) and Syngeta ventures (Switzerland), apart from this two ventures Neoplux, Jo Hirao (Founder of ZIGExN), HR Capital (Russia) and Trifecta Capital.
The RainMaker Group is the chief advisor for the Ninjacart for this particular round of funding.
NinjaCart is based out in Bangalore started in the year 2015, by Thirukumaran Nagarajan, Kartheeswaran K.K, Ashutosh Vikram, Sharath Loganathan, and Vasudevan Chinnathambi. The startup is operated by 63Ideas Infolabs Private Limited. It is solving the supply chain problems in the country. It fills the gap between farmers and retailers by removing the middleman in the system.
With the NinjaCart we are benefiting various elements in this chain system:
- Farmers will get a good selling price.
- Purchasing price will be less for retailers.
- Best food for the economy at affordable prices.
We are serving in three cities (Bengaluru, Hyderabad, and Chennai) all over the country with the 800 employees. We deliver to the stores within 12 hours after picking up from farmers, and daily we distribute 300 tonnes.
The fresh fund is used to expand its operations in 10 cities, to increase the human resources upto1200, and to increase supply chain centers to 200 by the middle of 2020.
The existing investors of the startup are Accel India, Nandan Nilekani, Mistletoe, and Qualcomm Ventures.
Before this NinjaCart raised funding from various methods:
- INR 37 Cr ($5.5 million) from Accel Partners, NRJN Trust, Mistletoe, Qualcomm Ventures, and M&S Partners in 2017.
- $ 1 Million from Trifecta Capital in the year 2018.
- Another $ 4.9 Million fresh fund from Accel in July 2018.