Ninjacart launches $25M seed fund to accelerate innovation in agritech ecosystem
Ninjacart will make seed investments in startups, entrepreneurs, and tech innovators. It will invest in teams that have great tech abilities but lack a solution or an idea.
Indian agritech platform has launched an agri seed fund worth $25 million to support emerging and new-age startups in the agriculture sector.
With an aim to boost tech innovation in the sector, Ninjacart has announced that it will make seed investments in startups, entrepreneurs, and tech innovators who present unique and sustainable solutions.
The fund will also be utilised to invest in teams that have great tech abilities but lack a solution or an idea. This capital infusion is expected to catalyse the emergence of innovative solutions in the global agricultural sector.
Thirukumaran Nagarajan, Co-founder and CEO, Ninjacart, said, “As a company, it has always been our ambition to strengthen the global agricultural ecosystem and we are eager to empower tomorrow's leaders. By assisting the next generation of entrepreneurs and small businesses it, is our endeavour to grow together, building a future that is sustainable and built on a strong foundation of productive collaboration."
Startups will be introduced to VCs, angel investors, and incubators. The procedure will be simple, allowing early-stage entrepreneurs to turn their concepts into concrete action on the ground.
Ninjacart also expressed its aim to invest in state-of-the-art technology in its own operations.
Founded in 2015, Ninjacart raised $145 million from Flipkart and Walmart in December 2021, marking one of the biggest deals in India’s agritech space. It has operations in seven cities, including Bengaluru, Chennai, Hyderabad, Pune, Delhi and Mumbai.
The company procures fresh fruits and vegetables directly from farmers and supplies them to retailers, hotels, restaurants, and even apartment complexes.
Edited by Teja Lele