Agritech startup Ninjacart posted Rs 2,002 crore gross revenue with a 20 percent decrease in its losses in FY24

Ninjacart is an agritech firm that offers fruits and vegetables through its online platform. The platform offering agri-products announced a 74 percent YoY growth in its gross revenue to Rs 2,002.7 crore in FY24.  The startup provides an online marketplace that allows farmers and producers to sell their products to retailers, wholesalers, and others. This product sale through its online platform is the company’s primary source of revenue.

The data intelligence platform, tracxn, mentioned that the startup had secured over 508 million USD across multiple funding rounds since its inception, including 9.17 million raised during its series D funding round from STIC investments and Mainstreet Digital Life.  The data intelligence platform tracxn also posted the company’s post-money valuation as around USD 756 million during its series D round. The agritech market saw an increase in investor interest. The company expands its reach in tier 2 and tier 3 cities to collaborate with retailers and local traders. inc42 reported. The company has investors, including Walmart, Accel, Flipkart, and others. Tiger Global Management is the firm’s largest institutional investor.

The startup connects farmers, retailers, and traders using its advanced technologies to overcome supply chain challenges. The firm also partners with retailers and local traders to support local businesses and strengthen its network. The Bengaluru-based startup mentioned that the AI-driven quality assessment and pricing algorithms help the firm with supply chain costs. This also allowed the company to improve overall efficiency in the supply chain.  The startup controlled its loss and managed to enhance its platform. The company posted a 20 percent decrease in its losses to Rs 259.6 core in FY24. Entrackr reported.

The company aims to improve its performance capability and expand its customer base while developing a strong presence in the agritech market. The firm uses artificial intelligence to reduce waste in its fulfillment business.  Ninjacart took a series of strategic initiatives to lower operational costs and increase business volume. The company is also focused on providing high-quality produce while empowering traders, farmers, and local economies. The firm managed to control its loss and remain profitable for this financial year. Ninjacart faces competition from other agri-products and supply chains providing B2B platforms, such as Waycool Foods, Farmlink, and Dehaat.

Conclusion:

The Bengaluru-based agritech startup Ninjacart announced a 74 percent YoY increase in its operational revenue to Rs 2002.7 crore in FY24. The firm has secured over 508 million USD across multiple funding rounds to date. This company offers a B2B platform that allows producers and farmers to sell products and connect with retailers. The sale of these products and supply chain is the firm’s primary source of revenue. The loss also decreased by 20 percent to Rs 259.6 crore in FY24. The company uses advanced technology and artificial intelligence to reduce waste in its fulfillment business. The startup minimized its losses and controlled the total expenditure. Ninjacart competes with other agritech companies like Dehaat.