India is a country of startups. To elaborate the statement, the technological advancements happening in the country are rapid and the businesses are increasing by the day. Ninjacart is one of the examples of modern India. It is a startup initiated in 2015 which is among the 42 most innovative startups in India. Ninjacart is basically an agriculture tech startup which delivers fresh fruits and vegetables.
Ninjacart’s process is simple yet extremely difficult to execute. The supply of their product is extremely difficult to pull off. Normally there are vendors which buy fruits and vegetables from the farmers and through them it is sold to us. Here, Ninjacart is that vendor. It will buy the vegetables or fruits from the farmers or retailers and will deliver it fresh to the consumers.
The Bengaluru-based startup emphasizes on their one-touch handling policy. The product is also 100% traceable back to the farms it came from. The quality of the product will also be high as it will be delivered within 12 hours if it is easily perishable. If the item is semi-perishable then it will be delivered within 3-4 working days. Hygiene is something which is maintained thoroughly by the company as well.
The company is also working towards setting up cold storage for fruits which need a certain environment to remain fresh. Apart from this, they are also trying to improve their packaging of the agricultural products which affects the consumer experience if not anything else.
The supply chain works in a manner in which there is a total transparency between both the farmers and the consumers. Ninjacart just acts as a glass bridge between the same. The company also claims that farmers earn 20% more revenue than normal. Another advantage is that the payment to the farmers is done within 24 hours.
The consumers get a doorstep delivery with fresh and high-quality vegetables and fruits which in turn also saves time. The prices are competitive and aggressive. Ninjacart already has around 4000 retailers and around 3000 farmers in its pocket. This is across five states which are Telangana, Karnataka, Maharashtra, Andhra Pradesh, and Tamil Nadu.
Given that this is a promising start for Ninjacart, they went through their first round of funding in 2017. It was satisfactory, however, the second round of funding is where they managed to rope in a lot of money. The Bengaluru startup won a lottery when they sealed an INR 250 crore investment from Accel US and Syngenta Ventures. These investors are dedicated to agri-tech industry and Ninjacart is one of the leading startups in this upcoming sector of technology.
Qualcomm Ventures, Accel India, Nandan Nilekani, and Mistletoe are among its existing investors and even they participated in the Series B funding round. The Rainmaker Group officiated this funding round for Ninjarcart. This funding will help the Indian startup in expanding to cities like Mumbai and Delhi. However, this is not the end for them, the planning of expansion of its distribution network is up to 200 cities. Accumulating both the funding rounds of 2017 and 2018, Ninjacart has picked up around INR 310 crores in investments. These investments come in at a time of ‘scaling rapidly’ from their current status.
– Unmesh Phule