Walmart and Flipkart invest in Ninjacart

Walmart and Flipkart on Wednesday announced a joint strategic investment in Ninjacart, a fresh produce supply chain startup. 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, a joint statement said.

Partnering with Ninjacart will 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, it said.

"The investment will also support Ninjacart to expand its customer base, reach new cities and gain exposure to global best practice to enhance the efficiency of the local fresh produce ecosystem", the statement added.

Founded in 2015, Ninjacart moves over 1,400 tons of fresh produce per day, having doubled its volumes in the last four months, it was stated. The paperless Ninjacart supply chain creates a seamless link between its more than 44,000 farmer suppliers and its customer base of 60,000 kirana stores and restaurants across seven cities, according to the statement.

"Ninjacart provides 100 percent traceability along the supply chain and has slashed food wastage to less than one percent, compared to 35 percent in traditional supply chains", it said.