Meet The Founder Of Ninjacart, Who Built A Rs 6,000 Cr Company After 5 Failures
Ninjacart, an Indian agritech startup, has transformed the agricultural supply chain and is now focused on establishing a lasting impact. Since its inception, Ninjacart has led the way in changing how farm produce reaches urban markets, making agritech an appealing and sustainable industry. Here's all you need to know about Ninjacart
Thirukumaran Nagarajan Founder Of Ninjacart: Ninjacart, an Indian agritech startup, has transformed the agricultural supply chain and is now focused on establishing a lasting impact. Since its inception, Ninjacart has led the way in changing how farm produce reaches urban markets, making agritech an appealing and sustainable industry.
Established in 2015 by Thirukumaran Nagarajan, Sharath Loganathan, and Ashutosh Vikram, Ninjacart aimed to address inefficiencies in the agricultural supply chain. Using technology, the startup streamlined the movement of fresh produce from farmers to retailers, cutting out middlemen and reducing food wastage.
Meet The Founder Of Ninjacart, Who Built A Rs 6,000 Cr Company After 5 Failures | ET
The Journey of Thirukumaran Nagarajan
Originally from Tamil Nadu, Thirukumaran Nagarajan faced initial challenges in his entrepreneurial journey. After unsuccessful ventures, he relocated to Bangalore. Despite setbacks, he envisioned an agritech startup with his friends.
READ ALSO: Uthaya Kumar: The ISRO Scientist Who Quit His Dream Job To Start a Rs 2 Crore Revenue Taxi Business
Innovative Solution
Their idea was to create an app connecting local Kirana stores with customers, enabling direct grocery sales in a hyperlocal format. Initially, the focus was on offering discounts to attract customers. However, they soon realized the need for sustainable business practices.
Growth and Expansion
Ninjacart gained momentum by directly sourcing fresh produce from farmers. By March 2016, the company delivered 15 tons of produce daily, significantly reducing food wastage. Expanding to Hyderabad and Chennai in April 2017, Ninjacart connected 100 farmers with over 500 retailers.
By the end of 2018, Ninjacart served 4,000 retailers and transacted 1400 tons of produce daily. Funding from Syngenta Ventures facilitated expansion to seven cities. In April 2019, a substantial investment from Tiger Global marked a significant milestone for the company.
Remarkable Achievements
In December 2021, Ninjacart's valuation soared to Rs 6000 crore after receiving funding from Walmart and Flipkart. Today, it collaborates with 800,000 farmers and 100,000 retailers across 120 locations in India.
In FY 2023-24, Ninjacart reported a 40% year-on-year increase in revenue, reaching ?1,500 crore. Operating in over 100 cities, the company connects more than 200,000 farmers with over 80,000 retailers.
Investment and Valuation
Significant investments totaling $350 million have fueled Ninjacart's growth, with major investors including Tiger Global, Accel, and Flipkart. The latest funding round in 2023 valued the company at approximately $1.2 billion.
Inspiring Leadership
Thirukumaran Nagarajan's journey from adversity to success serves as an inspiration to aspiring entrepreneurs. His visionary thinking and perseverance have led Ninjacart to become a multibillion-dollar company, showcasing the potential of the agritech sector.
READ ALSO: Vivek Ramaswamy: How A Startup Prodigy Built His Billion-Dollar Empire
For the latest and interesting financial news, keep reading Indiatimes Worth. Click here.
Anuj Tiwari writes stories for SEO and is a Youtube wizard. An engineer turned social media champ, he keeps a track of all that goes around the world. His interest areas include historic events, political and social-sciences.
