Ninjacart - a Bengaluru-based agritech start-up reshaping the agricultural landscape in India.
Greetings of the day!
India imports most of its Blueberry fruit from Peru, Belgium and Chile. The top 3 importers of Blueberry fruit are United States with 8,101 shipments followed by Ukraine with 5,500 and Australia at the 3rd spot with 3,647 shipments.Recently In India, Finance Ministry has lowered import duty on certain items from the US and include blueberries and cranberries where duties have been cut to 5-10 per cent from 30 per cent.The blueberry import by India is about $5 million, which the industry expects to grow by a quarter in the next three years. As consumers in India are becoming more health-conscious and are searching for satiating options for their nutritional needs, the business of exotic fruit market in India is witnessing growth with increase in imports as well as local farmers attempting a home-grown produce.
Appended below are the talk points to be addressed:
About Ninjacart:
Ninjacart is a B2B delivery platform connecting farmers with retailers, restaurants, and small business owners. The company offers farm-sourced vegetables, fruits, staples, and groceries through various tailored apps:
Hope the above is of interest, kindly let us know if we can discuss this further.
Thanks and Regards
Jasleen Kaur
Senior Account Executive | +91 9643955013
Communicate India
Greetings of the day!
India imports most of its Blueberry fruit from Peru, Belgium and Chile. The top 3 importers of Blueberry fruit are United States with 8,101 shipments followed by Ukraine with 5,500 and Australia at the 3rd spot with 3,647 shipments.Recently In India, Finance Ministry has lowered import duty on certain items from the US and include blueberries and cranberries where duties have been cut to 5-10 per cent from 30 per cent.The blueberry import by India is about $5 million, which the industry expects to grow by a quarter in the next three years. As consumers in India are becoming more health-conscious and are searching for satiating options for their nutritional needs, the business of exotic fruit market in India is witnessing growth with increase in imports as well as local farmers attempting a home-grown produce.
Appended below are the talk points to be addressed:
- Target market 250-275 tonnes of Peruvian blueberries in the current season.
- Supply gap between imported seasonal consumption and domestic production in India's growing blueberry market.
- The efforts in building inbuilt supply chain stack, results in low operational costs, contributing to its profitability.
- How Ninjacart is benefiting farmers through it's network of over 800,000 farmers and 100,000 retailers.
- Sustainable blueberry supply chain across India, potentially fostering stronger agricultural ties between Peru and India in the future.
- Ninjacart's expansion by FY25
- Ninjacart's effort in building from scratch & Innovating their offerings.
- 80% profitability by the end of 2024.
About Ninjacart:
Ninjacart is a B2B delivery platform connecting farmers with retailers, restaurants, and small business owners. The company offers farm-sourced vegetables, fruits, staples, and groceries through various tailored apps:
- Ninja Mandi: For agri commodity traders
- Ninja Kirana: For small business owners
- Ninja Kisaan: For agribusinesses
- Ninja Global: For importers and exporters
- Network: Over 800,000 farmers and 100,000 retailers
- Profitability: 50% of businesses currently profitable, aiming for 80% by end of 2024
- Innovation: Constant experimentation and pivoting from B2C to B2B based on market needs
- Financial Health: Despite a loss of Rs 325 crore in FY23, the company is on track for profitability by FY26 and has sufficient cash reserves for 4-4.5 years.
- Ninjacart To Turn Profitable In Fiscal 2026
- Ninjacart posted a gross merchandise value of around Rs 1,600 crore in FY23 and looks to touch Rs 4,000–5,000 crore in FY24
- Of the Rs 1,600 crore, roughly 60% of that came from the fulfilment business, and 30% came from the new offerings
- Tiger Global is the single largest shareholder, with about 19.7% stake. Accel owns 15.2% in the company, while Walmart and Flipkart hold about 26.2% combined, according to data from market intelligence platform PrivateCircle
- Ninjacart aims to post a revenue of more than Rs 2,500 crore in FY24
- The company, which employs about 1,300 people and operates in 70 locations, plans to expand to 200 cities and towns over 2024
- Ninjacart has raised $377 million from investors such as Tiger Global Management, Accel, Flipkart, Walmart and Infosys co-founder Nandan Nilekani. In its latest funding round, it secured about $145 million from Flipkart and Walmart, reaching a valuation of $815 million in December 2021
Hope the above is of interest, kindly let us know if we can discuss this further.
Thanks and Regards
Jasleen Kaur
Senior Account Executive | +91 9643955013
Communicate India