Flipkart to Invest $100 million in Ninjacart Funding round
Flipkart is planning to lead the funding round in the e-grocery startup Ninjacart. The aim of the funding round is to raise the value of the startup to $750-800 million from its current value that is $500 million.
According to the sources, this could be the biggest funding round of the startup. There is a possibility that the parent company of Flipkart, Walmart also invests in the startup in the funding round led by Flipkart. Earlier, Flipkart and Walmart invested 430 million in Ninjacart. Another source said that Flipkart has expanded its services to 500 cities before its Big Billion Sale and is focused on groceries. Ninjacart will play a crucial role in this expansion for supply.
With the introduction of delivery services like Instamart, Dunzo Daily, and Zepto the competition is very high. Recently, Grofers has also rebranded itself as Blinkit with the claims to provide better services to its customers.