Flipkart is in talks to lead a funding round of $100 million in supply chain startup Ninjacart. This will be one of the most significant investment rounds by Flipkart as it wants to grow in India’s online grocery business. Ninjacart’s valuation can jump to roughly $750-800 million after the funding round from the previous level of $500 million. After the investment is regularised, it will strengthen Flipkart’s partnership with Ninjacart as it will boost its grocery business to take on rivals like JioMart, Amazon India, and BigBasket.

• Stocks Under F&O Ban: RBL Bank, Bandhan Bank, and Others
• EAM S Jaishankar to Visit US from 24th to 29th December
• Elon Musk’s X Raises Premium+ Subscription Prices by 35% in India and Beyond
• Starbucks Workers Expand Strike Across Major US Cities, Including New York
• India’s GST on Popcorn Sparks Outrage

“Ninjacart has made a good recovery in the past one year, and with the new funding, other existing investors are also thinking to participate in this round,” said a media report. As part of its rising focus on the grocery sector, Flipkart is expanding its online store Supermart and 90-minute hyperlocal delivery service Flipkart Quick which focuses on groceries and has some products in other categories like electronics. Founded in 2015, Ninjacart presently operates in seven cities, including Bengaluru, Chennai, Hyderabad, Pune, Delhi and Mumbai, while Flipkart Quick is in ten cities with plans to reach 200 cities by the end of 2022.