Ninjacart - India's Largest Fresh Produce Supply Chain Platform

Sarika Anand Sarika Anand
Mar 27, 2021 8 min read
Ninjacart - India's Largest Fresh Produce Supply Chain Platform

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Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by the organization it is based on.

The traditional Supply Chain is highly inefficient, unorganized, and has a high rate of food wastage. Farmers experience price risk, information asymmetry about demand, distribution inefficiency, and receive late payments. Retailers face problems like higher costs, low quality and unhygienic produce, high price volatility, and the everyday hassle of going to the market.

Ninjacart is India's largest Fresh Produce Supply Chain platform. The company is pioneer in solving one of the toughest supply chain problems of the world by leveraging innovative technology. Their high-quality and hygienically handled fresh produce ensures healthy food to consumers.

Ninjacart - Company Highlights

Startup Name Ninjacart
Headquarters Bangalore, Karnataka, India
Industry Logistics, Supply Chain
Founded 2015
Founders Ashutosh Vikram, KartheeSwaran KK, Sharath Loaganathan, Sachin Jose, Thirukumaran Nagarajan, Vasudevan Chinnathambi
CEO Thirukumaran Nagarajan
Area Served India

Ninjacart - About and How it Works?
Ninjacart - Logo and its Meaning
Ninjacart - Founder and History
Ninjacart - Mission
Ninjacart - Recent News
Ninjacart - Team
Ninjacart - Business Model
Ninjacart - Revenue and Growth
Ninjacart - Funding and Investors
Ninjacart - Competitors
Ninjacart - Challenges Faced
Ninjacart - Future Plans
Ninjacart - FAQs

Ninjacart - About and How it Works?

Ninjacart is India's largest fresh produce supply chain company that is solving one of the toughest problems in the world through technology. The company connects producers of food directly with retailers, restaurants, and service providers using in-house applications that drive end to end operations.

Currently, their Supply Chain is equipped to move 1400 tones of perishables from farms to businesses, every day, in less than 12 hours.

Ninjacart is a developer of an agricultural marketing and supply chain platform intended to revolutionalize the fresh produce supply chain. The company's platform leverages data science, infrastructure, and networks to connect farmers directly to businesses and end retailers such as grocery stores, enabling retailers and merchants to source fresh farm produce directly from farmers in less time and in a cost-effective way.

  1. Ninjacart has eliminated intermediaries by taking control of the Supply Chain by using technology and analytics.
  2. The company has built reliable, cost-effective, and high-speed logistics and infrastructure to solve for inefficiencies in the Supply Chain.
  3. On one end, farmers get better prices and consistent demand, and on the other end, retailers receive fresh produce at competitive prices that are delivered to their doorstep.

Ninjacart - Logo and its Meaning

Ninjacart's logo is in green colour which indicates the company's intentions to revolutionalize the fresh produce supply chain.

Company Logo of Ninjacart
Company Logo of Ninjacart

Ninjacart - Founder and History

Founded by Ashutosh Vikram, KartheeSwaran KK, Sharath Loaganathan, Sachin Jose, Thirukumaran Nagarajan and Vasudevan Chinnathambi in 2015, the agri-tech startup has successfully built a tech-enabled supply chain for fresh farm produce, delivering 1,400 tonnes of fruits and vegetables daily.

Founders of Ninjacart
Founders of Ninjacart

Ninjacart started operating in 2015 as a hyperlocal grocery delivery platform, and their main aim was to help retailers take their inventory online and deliver quality groceries to consumers in less than 60 minutes from ordering at scale. This was still a novel concept back then.

But soon they realized that with little product differentiation, customers were unwilling to pay a premium rate just for the marginal convenience of ordering online, especially for fruits and vegetables. On one hand, kirana partners faced problems regarding tedious procurement processes and proper management of quality, hygiene, price, assortment and customer understanding. On the other, farmers experienced unfair practices, high food wastage due to a supply demand mismatch and lower incomes.

So, Ninjacart pivoted to a agri-tech platform to solve one of the toughest agricultural supply chain problems at its root, built reliable, cost-effective and high-speed infrastructure, and enabled retailers and merchants to source fresh produce directly from farmers daily.

Ninjacart - Mission

Ninjacart's mission and vision statement says, "Our vision is to build India's most efficient and largest Supply Chain platform and improve the lives of producers, businesses, and consumers in a meaningful manner."

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Ninjacart - Recent News

E-commerce marketplace Flipkart and its US-based parent Walmart have jointly made their second investment amounting to about $30 million in fresh produce supply chain startup Ninjacart.

In a joint statement issued, Flipkart and Walmart said that the investment would deepen their partnership with Ninjacart and would improve its offerings and enhance customer experience.

Ninjacart - Team

  • Thirukumaran Nagarajan - Co-founder & CEO
  • Abhishek Agarwal - Director of Strategy
  • Prashannth Vijayakumar - Full Stack Developer
  • Kartheeswaran K K - Chief Operating Officer
  • Theyagarajan S - AVP Product Management

Ninjacart - Business Model

Ninjacart's business model is based on removing inefficiencies and intermediate middlemen in the fruits and vegetables supply chain. On one hand, the company helps improve farmers’ incomes and provide a consistent demand and on the other hand, they deliver quality, fresh and hygienically handled produce to retailers and food service providers. Ninjacart buys from farmers and sell to retailers and food service providers within 12 hours.

Nagarajan says that more than 25 per cent of the vegetables Ninjacart sells are procured directly from farmers. The company engages farmers in various awareness programmes to educate them about Ninjacart and the benefit of selling directly to the venture.

Ninjacart - Revenue and Growth

  • Ninjacart's estimated annual revenue is currently $162.1M per year.
  • Ninjacart's estimated revenue per employee is $251,000

The company's sourcing network has 100 collection centres across the states to procure fresh goods. With a cumulative average growth rate of 400 per cent since 2016, the company has posted Rs 120 crore revenue in fiscal 2018-19 and turned operationally profitable.

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Ninjacart - Funding and Investors

Ninjacart has raised a total of $194.2M in funding over 11 rounds. Their latest funding was raised on Oct 12, 2020 from a Corporate Round round. Ninjacart is funded by 19 investors. Walmart and Flipkart are the most recent investors.

Date Round Amount Lead Investors
Oct 12, 2020 Corporate Round $30M -
Dec 11, 2019 Series C $10M Flipkart
Nov 15, 2019 Debt Financing $4.2M Trifecta Capital Advisors
Jul 18, 2019 Series C β‚Ή30M -
Jun 21, 2019 Series C $10M -
Apr 24, 2019 Series C $90M Tiger Global Management
Dec 12, 2018 Series B β‚Ή2.5B Accel, Syngenta Ventures
Jul 30, 2018 Series A $4.9M Accel, NRJN Trust
Mar 5, 2018 Debt Financing $1.1M Trifecta Capital Advisors
Apr 11, 2017 Series A $5.7M Accel

Ninjacart - Competitors

Ninjacart's top competitors include Farmioc, Chilibeli, AgroStar and FarmLead.

Ninjacart - Challenges Faced

β€œIt’s been a crazy journey, we encountered a lot of problems and we solved every small issue we met on the way with the help of technology and right now we move at least 1,000 tonnes of vegetables and fruits across seven cities,” says Thirukumaran Nagarajan, cofounder and CEO of Ninjacart.

The journey of any startup does not begin with immediate success. What once appeared to be problems may not actually create that much of an impact on the overall market, but something else completely unexpected could crop up.

Thirukumaran Nagarajan initially expected to scale-up to 50 tonnes of fruits and vegetables from the get-go. It was only when the team first confronted the behemoth of Indian agri-trading that the importance of effectively understanding the real problem and pivoting the startup’s problem statement came into play. But this is not the only time startups should focus on pivoting, according to Thirukumaran.

He states, β€œMany entrepreneurs struggle to scale once a startup enters the growth stage. When you are a small size company, your needs and the problems you look to solve are completely different. Once you start growing, the business demands changes. For instance, we started with a supply of 1 or 2 tons of farmer produce. But today, we have grown to almost 300 tons of supply β€” in a day. Of course, we faced many problems related to scaling, like managing the large supply of the produce, keeping away from frauds, and hiring the right people.”

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Ninjacart - Future Plans

Ninjacart looks forward to a future that will be driven by data and technology. The company has a database of around 40 different markets in terms of arrivals, supply, price, etc. According to Thirukumaran, they can predict the prices of vegetables and fruits, and production output in future.

According to Vasu, Ninjacart wants to focus on small vendors, mom-and-pop stores and unorganized provision stores β€” a segment it currently caters to and where the efficiency of its model lies. Ninjacart has 20,000 customers, including restaurants.

β€œIn the past three years, we have built a template for the business which is creating value for all stakeholders,” said Kartheeswaran K K, chief operating officer and one of the six co-founders of Ninjacart. β€œOur focus is how we can take this to 1 million farmers in 10-15 cities across India and make it into an alternative supply chain for fruits and vegetables,” he said.

Ninjacart - FAQs

Who's the CEO of Ninjacart?

Thirukumaran Nagarajan is the current CEO of Ninjacart.

Who founded Ninjacart?

Ninjacart was founded by Ashutosh Vikram, KartheeSwaran KK, Sharath Loaganathan, Sachin Jose, Thirukumaran Nagarajan and Vasudevan Chinnathambi in 2015.

How does Ninjacart make money?

Ninjacart's business model is based on removing inefficiencies and intermediate middlemen in the fruits and vegetables supply chain.

When was Ninjacart started?

Ninjacart was founded in 2015.

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