- commerce giants Flipkart and Walmart declared on Monday fresh investment for the Bengaluru-based start-up, Ninjacart, an online-grocery venture. The sum of investment amounts to $30 million or ₹ 220 crore for the grocery start-up.
This is their second investment, followed by the first one in December 2019. The investment comes at the moment of rattling e-grocery space with the competition of Reliance’s JioMart.
Kalyan Krishnamurthy, CEO of Flipkart Group, stated in an official statement, “The e-grocery market in India has seen tremendous growth over the past several months as people have increasingly taken to ordering groceries and fresh produce online. At the Flipkart Group, we are focused on ensuring that we continue to work towards developing new and innovative ways to meet our customers’ needs in this space through the growth of Supermart and the recent launch of Flipkart Quick.”
Thirukumaran Nagarajan, CEO and co-founder of Ninjakart spoke about the investment, “The fresh set of investments from Walmart and the Flipkart Group takes us one step closer to our vision of making food safe and accessible for the billion people and changing the way food reaches our plate.”
Ninjakart is a Bengaluru-based online grocery start-up established in 2015 by Thirukumaran Nagarajan, Kartheeswaran K K, Ashutosh Vikram, Sharath Loganathan and Vasudevan Chinnathambi.