Ninjacart Secures $6 Million Funding, Achieves Profitability, and Eyes IPO
Agritech startup Ninjacart has raised $6 million in a fresh funding round from existing investors Accel, Tiger Global, and Infosys co-founder Nandan Nilekani . The investment marks the first tranche of a larger multi-stage funding round and comes more than four years after the company’s previous raise .
The Bengaluru-based full-stack fresh produce supply chain startup has also announced that it has achieved EBITDA profitability, driven by improved sourcing, lower wastage, better supply-chain efficiencies, and a stronger product mix . This operational milestone positions the company for a potential initial public offering (IPO) within the next two years .
📊 The Funding Round
The $6 million investment marks Ninjacart’s first fundraise in more than four years . The company’s last major funding round was in December 2021, when it raised $145 million from Walmart and Flipkart at a valuation of $815 million . The current round is expected to have additional tranches with participation from other existing backers in the coming months .
Key Investors in Ninjacart:
| Investor | Type |
|---|---|
| Accel | Venture Capital |
| Tiger Global | Venture Capital |
| Nandan Nilekani | Angel / Individual |
| Walmart | Corporate |
| Flipkart | Corporate |
| Syngenta Group Ventures | Corporate |
| Qualcomm Ventures | Corporate |
| Steadview Capital | Venture Capital |
📈 Operational and Financial Performance
Over the past year, Ninjacart has focused on improving profitability while growing steadily . The company’s core fulfilment business—serving retailers, traders, and quick-commerce platforms—is growing at over 100% year-on-year in FY26 and has already achieved operational profitability . The overall business is now targeting company-wide profitability during FY27 .
Ninjacart Financial Performance (FY25):
| Metric | FY24 | FY25 | Change |
|---|---|---|---|
| Operating Revenue | ₹2,007 crore | ₹1,634 crore | ↓ 18.6% |
| Loss | ₹260 crore | ₹256 crore | ↓ 1.5% |
The decline in revenue was a deliberate strategic choice as the company exited select low-margin and non-core business segments to focus on improving margin mix and operating sustainability .
“We made conscious choices to streamline our business portfolio and redirect resources toward segments with stronger operating profitability and long-term potential.” — Kartheeswaran K.K., Co-founder and CEO, Ninjacart
🚀 Operational Scale and Market Position
Ninjacart has established itself as a dominant player in India’s fresh produce supply chain:
- Daily Volume: Moves over 1,500 tonnes of fresh produce daily
- Geographic Reach: Operates in more than 40 cities
- Product Portfolio: Manages over 150 products, from staples like onions and potatoes to premium produce like blueberries and avocados
- Farmer Network: Works with more than 150,000 farmers
- Retailer Network: Serves over 30,000 retailers
The company is the largest supplier of fresh produce to India’s rapidly growing quick commerce sector, while also serving modern trade chains, traditional retailers, exporters, and the HoReCa (Hotels, Restaurants, and Catering) segment .
🔮 IPO Preparations
With profitability achieved and operational discipline in place, Ninjacart is advancing its IPO preparation. The company expects to pursue a public listing within the next two years, subject to market conditions and regulatory approvals .
“Our goal is clear — to build a sustainable, profitable, and technology-driven platform that creates long-term value for farmers, traders, retailers, and consumers.” — Kartheeswaran K.K., Co-founder and CEO, Ninjacart
💡 Technology as a Competitive Advantage
Ninjacart leverages technology, data, and proprietary AI-powered tools for demand forecasting, sales management, pricing intelligence, and logistics optimisation to minimise wastage and reduce supply chain costs . Key products in its portfolio include Ninja Kirana for retailers, Ninja Mandi for traders, Ninja Kisaan for farmers, and Ninja Global for importers and exporters .
Summery :
💰 Ninjacart Secures $6 Million Funding
Agritech startup Ninjacart has raised a fresh $6 million round, backed by Accel, Nandan Nilekani, and Tiger Global. This infusion strengthens Ninjacart’s operations as it moves closer to a potential IPO.
💡 Why this funding matters:
- Agritech innovation – Ninjacart is transforming supply chains by connecting farmers directly with retailers.
- Investor confidence – backing from global and Indian heavyweights signals strong belief in its model.
- IPO readiness – fresh capital helps streamline operations and governance for public market entry.
- Food supply chain impact – improving efficiency, reducing waste, and ensuring better farmer incomes.
📊 This deal reflects a broader trend where agritech startups are attracting significant capital, positioning India as a leader in tech-driven agriculture.
🚀 With this funding, Ninjacart is not just scaling operations—it’s setting the stage to become one of India’s most prominent agritech IPO stories.
