ew Delhi: US retail major Walmart and Bengaluru-based online retail titan Flipkart have reportedly jointly infused about $30 million in supply chain technology company Ninjacart. This follows the investment made by Walmart and thus the Flipkart Group in December 2019.
Flipkart and Walmart announced the funding during a joint statement on Monday, without revealing the number. With this investment, Walmart and Flipkart still specialize in ensuring access to high-quality fresh produce for consumers and retailers while creating economic opportunities for farmers through the continued use of technology.
It is worth mentioning here that the event assumes significance because e-commerce marketplaces saw a sharp jump in sales, especially grocery items, because of the coronavirus pandemic, which has also triggered strong competition within the world with the entry of billionaire Mukesh Ambani-controlled Reliance Industries’ Jio Mart.
Kalyan Krishnamurthy, CEO of Flipkart Group, said: “The e-grocery market in India has seen tremendous growth over the past several months. we’ll still make investments to provide the only produce to our customers and support livelihoods and sustainable growth for local farmers, producers, and thus the availability chain ecosystem.”
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