Ninjacart raises Rs 250 cr from Accel US, Syngenta Ventures, others

Agri-tech platform Ninjacart Wednesday said it has closed a Rs 250 crore funding round from Accel US, Syngenta Ventures and others.

The series B round also saw participation from Neoplux, Jo Hirao (ZIGExN founder), HR Capital (Russia) and Trifecta Capital.

All existing investors -- Accel India, Infosys co-founder Nandan Nilekani, Mistletoe and Qualcomm Ventures also participated in this round.

With this funding round, Ninjacart has raised a total of Rs 310 crore so far.

The funding will be used to expand to new geographies, strengthen the product and technology team and invest in bettering the supply chain infrastructure, Ninjacart CEO and co-founder Thirukumaran Nagarajan said.

He added that Ninjacart aims to expand to more than 10 cities, open 200 distribution centres across India and scale hiring and onboarding talent in the near future.

He, however, declined to comment on the valuation of the company post the fund-raise and revenue numbers.

Launched in 2015, Ninjacart is a Bengaluru-based startup founded by Thirukumaran Nagarajan, Kartheeswaran K K, Ashutosh Vikram, Sharath Loganathan and Vasudevan Chinnathambi.

Ninjacart enables retailers and merchants to source fresh produce directly from the farmers at competitive prices. It has a sourcing network of over 3,000 farmers across south India and moves fresh produce from farm to more than 4,000 retailers.

The company currently operates in Bengaluru, Hyderabad and Chennai and has more than 750 employees.