Walmart and Flipkart announced a joint strategic investment in Ninjacart, the startup disrupting India’s fresh produce market with its business-to-business (B2B) supply chain infrastructure and technology solutions.
The transaction is expected to close by year-end. The three partners aim to help ensure better access to fresh produce for more retailers and consumers across India while also creating economic opportunities for farmers.
Partnering with Ninjacart will help Walmart and Flipkart strengthen direct sourcing of fresh produce for Walmart India’s cash-and-carry stores and Flipkart’s online grocery business Supermart.
The investment will also support Ninjacart to expand its customer base, reach new cities and gain exposure to global best practice to enhance the efficiency of the local fresh produce ecosystem.
Founded in 2015, Ninjacart uses supply chain algorithms developed in-house and leverages big data, predictive analytics, mobile applications and the Internet of Things to power a just-in-time supply chain that connects farmers to retailers via a network of more than 200 collection centres and 1,200 warehouses across the country.
It moves over 1,400 tonnes of fresh produce per day, having doubled its volumes in the last four months. The paperless supply chain creates a seamless link between its more than 44,000 farmer suppliers and its customer base of 60,000 kirana stores and restaurants across seven cities.
“Our new partnership with Ninjacart will help us create more opportunities for smallholder farmers and boost rural incomes while also improving access to high-quality produce for all our members including kiranas, hotels, restaurants and businesses around India,” said Krish Iyer, President and Chief Executive Officer of Walmart India.