B2B agritech startup Ninjacart has secured $6 million in the first tranche of a larger funding round led by existing investors Accel, Tiger Global, and Infosys cofounder Nandan Nilekani. The company announced the round as part of its preparations for an initial public offering within the next two years, signaling its ambitions to go public soon, according to inc42.com.
Ninjacart’s CEO and cofounder Kartheeswaran KK highlighted that the startup has achieved EBITDA profitability and is focusing on operational efficiencies to support growth. He explained that the company improved margins by optimizing category and channel mix and enhanced sourcing strategies. Additionally, leveraging technology and data helped minimize wastage and reduce supply chain costs, contributing to a threefold growth in its core business over the past year, inc42.com reported.
The funding round comes amid a broader trend of agritech startups scaling operations and preparing for public listings. Ninjacart’s progress in profitability and growth positions it alongside other startups in the sector aiming to capitalize on increasing investor interest. While the company has not disclosed exact financial figures or the total targeted size of the funding round, the involvement of prominent backers like Accel and Nandan Nilekani underscores confidence in its business model, according to inc42.com.
Ninjacart was founded in 2015 and has steadily focused on profitability and scaling its supply chain technology. The company has not yet revealed the full size of the ongoing funding round or detailed IPO plans. Inc42.com noted that further updates will be provided as the startup discloses more information.