Ninjacart finds Rs 37crore funds under the Mistletoe
BENGALURU: Ninjacart, a business-to-business agri-marketing platform, has raised Rs 37 crore from new investors Mistletoe, headed by Taizo Son, the youngest brother of SoftBank CEO Masayoshi Son, and Nandan Nilekani's NRJN Family Trust. Existing investors Accel Partners, Qualcomm Ventures and M&S Partners also participated in the funding round.
The Bengaluru-based company, which started as a hyperlocal grocery delivery service in May 2015, changed to a business-to-business marketplace model, providing transparency of pricing to farmers and building a supply chain for fresh produce to be sold to restaurants, supermarkets and grocery stores.
"In the last one year, we relentlessly focused on building a cost-efficient, reliable and scalable supply chain that can handle 300plus tonnes a day. We overhauled our entire organisation and systems, keeping cost and speed at the centre. Today, we move 60-plus tonnes of produce a day from farm to store in less than 14 hours at a cost lower than traditional supply chains," said Thirukumaran Nagarajan, CEO of Ninjacart.
The firm manages logistics for farmers who can sell their inventory in real time.The kirana stores and supermarket outlets contribute to 80% of Ninjacart's sales.
The company also works with some Foodworld outlets, restaurant chain Madurai Idly and Zaica, among others. It has scaled down wastage of produce to 4% over the entire supply chain.Committed business orders for farmers help in its planning.
The Bengaluru-based company, which started as a hyperlocal grocery delivery service in May 2015, changed to a business-to-business marketplace model, providing transparency of pricing to farmers and building a supply chain for fresh produce to be sold to restaurants, supermarkets and grocery stores.
"In the last one year, we relentlessly focused on building a cost-efficient, reliable and scalable supply chain that can handle 300plus tonnes a day. We overhauled our entire organisation and systems, keeping cost and speed at the centre. Today, we move 60-plus tonnes of produce a day from farm to store in less than 14 hours at a cost lower than traditional supply chains," said Thirukumaran Nagarajan, CEO of Ninjacart.
The firm manages logistics for farmers who can sell their inventory in real time.The kirana stores and supermarket outlets contribute to 80% of Ninjacart's sales.
The company also works with some Foodworld outlets, restaurant chain Madurai Idly and Zaica, among others. It has scaled down wastage of produce to 4% over the entire supply chain.Committed business orders for farmers help in its planning.
