B2B Agrimarketing Startup Ninjacart Raised $1.1Mn From Venture Debt Firm Trifecta Capital
B2B Agrimarketing startup, Ninjacart running under 63Ideas Infolabs Pvt Ltd, has raised about $1.1 million (INR 7 crore) from venture debt firm Trifecta Capital.
The raised capital will be used to invest in capital expenditure and strengthen its supply chain infrastructure.
Ninjacart is operational in Bangalore where it helps farmers to sell their produces directly to shops, retailers and restaurants and after this round of funding the company plans to establish itself in Chennai.
“We have grown to process more than 150 tonnes of fruits and vegetables per day in Bangalore. We have also done a pilot test of our playbook in Chennai, and are planning a full fledged launch in Chennai by scaling to 100 tonnes per day in a span of three months,” said Thirukumaran Nagarajan, co-founder and chief executive of the venture.
B2B Agrimarketing startup Ninjacart was founded in July 2015 by Nagarajan, Sharath Loganathan, Kartheeswaran K K, Ashutosh Vikram, Sachin P J, and Vasudevan Chinnathambi.
Earlier AgriMarketing Platform Ninjacart Raised US$5.5Mn From Accel Partners, Nandan Nilekani’s NRJN Trust & Others in April, 2017 and in March 2016, it had raised $3 million in a Series A round led by Accel Partners.
Trifecta Capital was launched in 2015 by Nilesh Kothari and Rahul Khanna and has invested in over 25 companies, including PaperBoat, Rivigo, UrbanClap, BigBasket, among others. It manages a target corpus of INR 500 crore. Trifecta provides early-stage debt capital to Indian companies, mainly in the technology sector.