Ninjacart raises $3 mn from Accel, Qualcomm Ventures & others

Ninjacart, an online B2B marketplace connecting farmers and brands to retailers, has raised around Rs 20 crore (USD 3 million) funding led by Accel Partners.
The Series A round, which also saw participation from Qualcomm Ventures, M&S Partners (Singapore) and Zop Smart, will primarily be used for expanding the company's team, supply chain infrastructure and technology.
Founded by former executives of startups like Taxiforsure, Ola and Commonfloor, Ninjacart helps supermarkets, kirana stores and standalone shops source fresh fruits and vegetables, staples and FMCG goods at competitive prices directly from farmers and brands.
"Due to marginal farming, poor logistics and zero market information there are numerous middlemen involved in getting the produce from farmers to markets. The farmer gets only one fourth of what the consumer pays," Ninjacart co-founder and CEO Thirukumaran Nagarajan said.

Ninjacart is trying to solve these problems by bridging the gaps so that the farmer gets a good value for his produce and the stores get quality goods at competitive price, he added.
In a short span of two months, Ninjacart is enabling supply of over 15 tonnes of vegetables and fruits daily to over 120 retailers. The company is witnessing a week-on-week growth of 30 per cent with monthly revenue of Rs 1.2 crore and is operationally cash positive.
The company started operations in May 2015 as a hyperlocal grocery delivery company. However, after six months of operation, it changed the model to become a full-fledged B2B marketplace.