Total amount raised
$357.6 Million
Latest funding date
5/1/2022
Location
Ninjacart has successfully navigated 15 funding rounds, with its latest being a Series D led by STIC Investment. The company has attracted a diverse group of 25 investors, including Mainstreet Investment and Avaana Capital.
Keep reading to explore the intricacies of Ninjacart's fundraising journey and the investors backing this innovative platform.
What Is Ninjacart?
Ninjacart is a prominent player in the agritech industry, headquartered in Bengaluru, Karnataka, India. The company operates in various sectors, including AgTech, B2B, E-Commerce, Marketing, Sales, and Supply Chain Management.
Founded to revolutionize the fresh produce supply chain, Ninjacart connects farmers, manufacturers, and brands directly to retailers. The company boasts a substantial workforce, with an employee count ranging from 1001 to 5000.
How Much Funding Has Ninjacart Raised?
- Series B
- Amount Raised: USD 35,000,000
- Date: December 2018
- Lead Investors: Accel, Syngenta Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand operations and enhance supply chain capabilities.
- Series C
- Amount Raised: USD 90,000,000
- Date: April 2019
- Lead Investors: Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale up the business and improve technological infrastructure.
- Series C
- Amount Raised: USD 10,000,000
- Date: June 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing expansion efforts.
- Series C
- Amount Raised: INR 30,000,000
- Date: July 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further enhance supply chain operations.
- Debt Financing
- Amount Raised: USD 4,180,000
- Date: November 2019
- Lead Investors: Trifecta Capital Advisors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To manage working capital and operational expenses.
- Series C
- Amount Raised: USD 10,000,000
- Date: December 2019
- Lead Investors: Flipkart
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and enhance technological capabilities.
- Corporate Round
- Amount Raised: USD 30,000,000
- Date: October 2020
- Lead Investors: Flipkart, Walmart
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support strategic growth initiatives and market expansion.
- Series Unknown
- Amount Raised: USD 9,500,000
- Date: May 2021
- Lead Investors: Syngenta Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product offerings and expand market presence.
- Series D
- Amount Raised: USD 145,000,000
- Date: December 2021
- Lead Investors: Flipkart, Walmart
- Valuation at Round: Approximately USD 800,000,000
- Motivation Behind the Round: To scale operations and support the expansion of Flipkart's grocery business.
- Series D
- Amount Raised: INR 69,800,000
- Date: May 2022
- Lead Investors: STIC Investment
- Valuation at Round: Approximately USD 815,000,000
- Motivation Behind the Round: To continue growth and enhance operational capabilities.
Total Amount Raised: USD 333,680,000. Current Valuation: Approximately USD 815,000,000.
Key Investors
- STIC Investment
- Details: STIC Investment is a South Korea-based investment firm. They participated in Ninjacart's Series D funding round.
- Investment Focus Areas: Technology, agritech, startups.
- Notable Investments: Not publicly disclosed.
- Walmart
- Details: Walmart is a US-based retail giant. They invested $145 million in Ninjacart in December 2021.
- Investment Focus Areas: Retail, e-commerce, technology.
- Notable Investments: Flipkart, various global retail and technology companies.
- Flipkart
- Details: Flipkart is an Indian e-commerce company backed by Walmart. They hold a significant stake in Ninjacart.
- Investment Focus Areas: E-commerce, technology, retail.
- Notable Investments: Various technology and retail startups.
- Tiger Global Management
- Details: Tiger Global Management is a US-based investment firm. They are one of the largest stakeholders in Ninjacart.
- Investment Focus Areas: Technology-driven companies, e-commerce, software, consumer internet.
- Notable Investments: Flipkart, Ola, Zomato.
- Accel
- Details: Accel is a global venture capital firm. They hold a significant stake in Ninjacart.
- Investment Focus Areas: Early-stage and growth-stage companies, technology, agritech.
- Notable Investments: Flipkart, Swiggy, Freshworks.
What's Next for Ninjacart?
Ninjacart stands at the cusp of significant growth opportunities. With recent funding from STIC Investment and Main Street Digital Life IV Pte Ltd, the company is well-positioned to expand its technological capabilities through the acquisition of Tecxprt. Additionally, the establishment of a $25 million Agri Seed Fund will enable Ninjacart to support early-stage agritech startups, further solidifying its role as a leader in the industry.
Future fundraising opportunities appear promising, given the continued interest from major investors like Walmart and the potential for additional Series D funding rounds. This influx of capital will be crucial as Ninjacart aims to scale its operations and enhance its supply chain infrastructure. However, the company must navigate challenges such as competition from other agritech startups and the complexities of managing a vast logistics network.
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