Bengaluru-based Online platform, Ninjacart that connects farmers and brands to retailers, has raised Rs 20 crore in a funding round led by Accel Partners. The round also saw participation from Qualcomm Ventures, Singapore-based M&S Partners and ZopSmart, the parent of online grocer ZopNow.
The startup, which removes the middlemen, commission agents and auction agents in mandis and provide an efficient price discovery platform and supply chain for the producers, will use the cash to hire talent, invest in supply chain infrastructure and technology.
“Due to marginal farming, poor logistics and zero market information, a number of middlemen get involved in sourcing the produce from farmers to markets,” said Thirukumaran Nagarajan, chief executive officer at Ninjacart. “As a result, the farmer gets only one fourth of what the consumer pays.”
Ninjacart is trying to solve these problems by bridging the gaps so that the farmer gets a good value for his produce and the stores get quality goods at competitive prices, he added.
“B2B fresh and staples is a multibillion dollar category,” said Subrata Mitra, partner at Accel Partners. “It’s highly unorganised and inefficient. Ninjacart is using tech and ops innovation to drive efficiencies in this unstructured marketplace.”