The funding will help NinjaCart enhance its technology and supply chain infrastructure. Here are the top-line bullets you need to know.
NinjaCart, a B2B marketplace for agricultural produce, has raised $145M in an extended Series D round that drew participation from Flipkart Venture Fund and Walmart.
How’s the company performing?
- India-based NinjaCart’s agritech platform brings together farmers and retailers to facilitate the buying and selling of fresh produce.
- Its supply chain technology helps address price risk and distribution inefficiency, among other issues.
- The startup claims to have helped more than 100K farmers across 150 villages bring in more revenue.
- The fresh produce supply chain company is equipped to deliver nearly 1400 tonnes of agricultural produce from farmers to businesses in less than 12 hours.
Why does the market matter?
- The global food logistics market is expected to reach a value of $176.5B by 2027, growing at a CAGR of 8.3%, according to Maximize Market Research.
- The rapid growth of e-commerce and the adoption of AI and other intelligent technologies to improve supply chain efficiency have contributed to market growth.
- Online shopping volume jumped in the face of pandemic-related lockdowns, increasing the demand for logistics solutions and, therefore, growth in this market.