Business

Walmart, Flipkart rope in Ninjacart

American retail major Walmart and its Indian arm Flipkart have announced a joint strategic investment in city-based Ninjacart, a start-up in the fresh agri produce space.

The three partners aim to help ensure better access to high-quality fresh produce for more retailers and consumers across India while also creating economic opportunities for farmers, Flipkart said in a release. The Ninjacart partnership would help Walmart and Flipkart strengthen direct sourcing of fresh produce for Walmart India’s Best Price B2B cash-and-carry stores and Flipkart’s online grocery business Supermart. The investment would also support the fresh produce start-up to expand its customer base, reach new cities and gain exposure to global best practices to enhance the efficiency of the local fresh produce ecosystem, the company said.

Kalyan Krishnamurthy, CEO, Flipkart Group, said, “As a homegrown e-commerce company, it is in our DNA to drive change and solve complex local problems in-house through technology. In Ninjacart, we see a company that shares our values, our pioneering mindset and our commitment to tech-driven innovation that improves life in India.”

Ninjacart moves over 1,400 tonnes of fresh produce per day and its supply chain has more than 44,000 farmer suppliers and over 60,000 kirana stores and restaurants across seven cities. The start-up claims that it can provide 100% traceability along the supply chain and has slashed food wastage to less than 1%, compared to 35% in traditional supply chains.

The transaction is expected to close by year-end, according to Flipkart.

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Printable version | Feb 20, 2020 6:39:42 AM | https://www.thehindu.com/business/walmart-flipkart-rope-in-ninjacart/article30279498.ece

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