Digitising an industry that is vast, complex and fragmented isn’t the easiest of tasks but Tiger Global and Flipkart-backed NinjaCart says the trick is to craft tailored solutions for every player in the value chain. The goal? Making information sharing seamless so the
entire value chain becomes efficient.
Ninjacart, which started off as a fresh produce supply chain company, has transformed itself as an online market place over the years, connecting farmers, traders, retailers, exporters and importers of farm produce on its trading platform. Hemanth Vasudevan, the company’s head of marketing, says the start wasn’t easy as a huge majority of the farmers followed practices deeply rooted in tradition. Indeed, there was no rule book to fall back on.
The solution: Innovate as you go.
So far, the company has meticulously crafted products catering to each player in the food supply chain. Ninja Mandi connects traders with a wider market, Ninja Global facilitates import and export for international trade, Ninja Kirana empowers retailers, and Ninja Kisaan provides resources and support directly to farmers. This multi-pronged approach has yielded impressive results. With over 800,000 farmers, 100,000 retailers, and a revenue exceeding `1,212 crore in FY23, and Ninjacart
is on track to cross `3,000 crore.
To meet customers where they feel most comfortable, Ninjacart leverages social platforms such as WhatsApp, Telegram and Facebook. In other words, the company has adopted a hybrid approach,
integrating on-app communication processes alongside established platforms.
The opportunity is huge, says Karan Mehta, venture principal, Green Frontier Capital. “First, the agriculture sector in India is still lagging in adopting technology. Second, agriculture is one of the biggest consumers of natural resources and a major contributor to greenhouse gas emissions. Technology can play a significant role in addressing these challenges.”
Experts also say that the areas that can enhance farm productivity, minimise post-harvest losses, and streamline supply chains have already become lucrative investment opportunities.
Market estimates suggest that the agritech sector will be addressing a $34-billion market by 2027. Despite the potential, hurdles remain. For one, competition is fierce, with agritech companies such as Otipy pushing innovative technologies to stay ahead. Says Varun Khurana, CEO of Otipy, “Simple technological innovations can make a tremendous impact, as seen at Otipy, where using AI has significantly reduced wastage.”
For another, the entire space is very unorganised and labour-intensive. Tech adoption will depend on eliminating intermediate layers, facilitating direct farmer-trader connections, Vasudevan adds.
