Flipkart in talks to lead a $100million funding round in Ninjacart
- ByStartupStory | December 13, 2021
According to a report by the ET, e-commerce giant Flipkart is in talks to lead a $100 mn funding round in the supply-chain startup Ninjacart. Flipkart’s parent company Walmart is also supposed to participate in the funding round according to sources. If the investment is formalised, it will deepen Flipkart’s partnership with Ninjacart as it looks to boost its grocery business to take on rivals like Reliance Industries, JioMart, Amazon India, and Tata-owned BigBasket.
Earlier in 2020, Walmart and Flipkart had together invested around $30 million after having first backed the startup in 2019. Flipkart were in around 100 cities earlier and scaled it to more than 500 before the Big Billion Days sale. Flipkart will continue to focus heavily on grocery and will be expanding across the country. Ninjacart’s support on the supply side will be crucial.
Where Flipkart is competing with e-commerce giants, Ninjacart is also competing with Swiggy’s Instamart, Dunzo Daily, and new entrant Zepto in the quick commerce space, offering delivery of groceries and essentials in 15-30 minutes.
As part of its increasing focus on the sector, the Flipkart Group is scaling its online store Supermart as well as 90-minute hyperlocal delivery service Flipkart Quick, which largely focuses on groceries and has select products in other categories like electronics.
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