Ninjacart raises Rs 250 crore from Accel US, Syngenta Ventures in Series B funding

By: | Published: December 13, 2018 4:04 AM

Agri-tech platform Ninjacart has raised Rs 250 crore in a Series B funding round from Accel US, Syngenta Ventures, Neoplux, Joe Hirao (the founder of ZIGExN), HR Capital and Trifecta Capital. Existing investors Accel India, Nandan Nilekani, Mistletoe and Qualcomm Ventures also participated in the round.

agriculture sector, agriculture industryNinjacart aims to expand to more than 10 cities, open around 200 distribution centres across India and scale hiring and onboarding talent in the near future.

Agri-tech platform Ninjacart has raised Rs 250 crore in a Series B funding round from Accel US, Syngenta Ventures, Neoplux, Joe Hirao (the founder of ZIGExN), HR Capital and Trifecta Capital. Existing investors Accel India, Nandan Nilekani, Mistletoe and Qualcomm Ventures also participated in the round.

The RainMaker Group acted as the sole adviser to NinjaCart for the Series B funding round.

The company said the funding will be used to expand to new areas, product development and expand the technology team, and also invest in bettering the supply chain infrastructure.

Ninjacart aims to expand to more than 10 cities, open around 200 distribution centres across India and scale hiring and onboarding talent in the near future.

Commenting on the announcement, Thirukumaran Nagarajan, CEO & co-founder of Ninjacart, told FE that the firm currently sells around 300 tonnes of fruits and vegetables a day. He added that the company works mostly with mom-and-pop stores. The firm started out as a hyperlocal grocery delivery company, but shifted to its current model of selling fruits and vegetables to retailers.

Subrata Mitra, partner at Accel India, said, “Ninjacart has been attempting to alleviate major issues in the fruits & veggies supply chain over several years. With the current round of financing, we expect them to continue to scale rapidly, enter new cities, and enable direct relationships with farmers and shopowners across even more categories.”

With this funding round, Ninjacart has now raised a total of `310 crore so far. It currently operates in Bengaluru, Hyderabad and Chennai, with a team of over 750 employees.

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