Agritech Startup Ninjacart announces a $25 Million fund to back Similar Category Startups
Ninjacart, an agritech startup, has created a $25 million fund to support startups in similar categories. The investment initiative, dubbed Agri Seed Fund, will fund such firms by participating in seed capital rounds.
Thirukumaran Nagarajan, cofounder and CEO of Ninjacart, asked agritech entrepreneurs to connect for funding in a LinkedIn post the day before. He claimed in the post that Ninjacart will seed finance firms in just two days.
"Two calls - one for screening and the other for evaluation – two days flat from the first call to get a yes or no from us," he wrote.
The announcement is part of a bigger push by the agritech platform to speed up the growth of the agritech ecosystem.
Speaking on the development, Nagarajan told, “Joining forces with Ninjacart will open windows for emerging enterprises allowing them to access valuable data, supply chain infrastructure, technology, farmers, and existing partners. The startups will be introduced to VCs, angel investors, and incubators. The procedure would be simple, allowing early-stage entrepreneurs to turn their concepts into concrete action on the ground.”
Ninjacart plans to make seed investments in firms that offer "unique, sustainable, and tech-enabled solutions," according to the company.
Ninjacart will continue to invest in companies who have excellent technical skills but are now without a solution or an idea.
With the money, the business intends to promote innovation by supporting ideas and models that might provide 'high-priority solutions' in the global agriculture ecosystem.
Ninjacart will also give the startups it finances access to its technical infrastructure and data pools, as well as growth-stage advising support, according to the company.
Nagarajan further added, “By assisting the next generation of entrepreneurs and small businesses, it is our endeavour to grow together, building a future that is sustainable and built on a strong foundation of productive collaboration.”
The company also intends to expand its own technological operations. It was recently a part of India's largest agritech deal, when Walmart-backed Flipkart invested $150 million in the business, valuing it between $700 and $800 million.
Ninjacart's mission of creating a digital agri-ecosystem has been widened by the investments, which now allow all agri-players, including farmers, resellers, retailers, consumers, and supply chain partners, to buy and sell fresh fruit in a transparent manner.
India's addressable agritech industry potential is anticipated to reach $24.1 billion by 2025, according to Inc42 Plus. Indian entrepreneurs have only gotten into $204 million thus far, or 1% of the total in 2020.
Thirukumaran Nagarajan, cofounder and CEO of Ninjacart, asked agritech entrepreneurs to connect for funding in a LinkedIn post the day before. He claimed in the post that Ninjacart will seed finance firms in just two days.
"Two calls - one for screening and the other for evaluation – two days flat from the first call to get a yes or no from us," he wrote.
The announcement is part of a bigger push by the agritech platform to speed up the growth of the agritech ecosystem.
Speaking on the development, Nagarajan told, “Joining forces with Ninjacart will open windows for emerging enterprises allowing them to access valuable data, supply chain infrastructure, technology, farmers, and existing partners. The startups will be introduced to VCs, angel investors, and incubators. The procedure would be simple, allowing early-stage entrepreneurs to turn their concepts into concrete action on the ground.”
Ninjacart plans to make seed investments in firms that offer "unique, sustainable, and tech-enabled solutions," according to the company.
Ninjacart will continue to invest in companies who have excellent technical skills but are now without a solution or an idea.
With the money, the business intends to promote innovation by supporting ideas and models that might provide 'high-priority solutions' in the global agriculture ecosystem.
Ninjacart will also give the startups it finances access to its technical infrastructure and data pools, as well as growth-stage advising support, according to the company.
Nagarajan further added, “By assisting the next generation of entrepreneurs and small businesses, it is our endeavour to grow together, building a future that is sustainable and built on a strong foundation of productive collaboration.”
The company also intends to expand its own technological operations. It was recently a part of India's largest agritech deal, when Walmart-backed Flipkart invested $150 million in the business, valuing it between $700 and $800 million.
Ninjacart's mission of creating a digital agri-ecosystem has been widened by the investments, which now allow all agri-players, including farmers, resellers, retailers, consumers, and supply chain partners, to buy and sell fresh fruit in a transparent manner.
India's addressable agritech industry potential is anticipated to reach $24.1 billion by 2025, according to Inc42 Plus. Indian entrepreneurs have only gotten into $204 million thus far, or 1% of the total in 2020.
