Meet the individual who faced adversity five times before establishing a company valued at 6700 CR.
- Thirukumaran Nagarajan, an engineer hailing from Tamil Nadu, encountered numerous setbacks throughout his journey. Despite launching five startups, ranging from a location-based social platform to a biryani center, he struggled to achieve significant growth with any of them. With only Rs 500 left to his name, he made the pivotal decision to relocate to Bangalore, where he secured a job at TaxiForSure. 🙌
- Following the acquisition of TaxiForSure by Ola in 2015, Thiru found himself seeking new opportunities. Rallying his five friends, he embarked on a collaborative venture. As the acquisition deal materialized, Thiru unveiled an agritech startup with his companions, giving rise to Ninjacart in June 2015. 🚀
- The concept was straightforward: deliver groceries in a hyperlocal format. Thiru devised an app to facilitate direct sales from local Kirana stores to end consumers. However, early outcomes revealed a flaw in the model, as it primarily entailed discounting items from the Kirana app and selling them at further discounts on the customer-facing app. Recognizing the need for a paradigm shift, Thiru set out to add value to the model. 🤔
- Thiru recognized an opportunity to empower supermarkets and Kirana stores by sourcing fresh produce directly from farmers and brands at competitive prices. This strategic pivot in December 2015 marked a turning point for Ninjacart. 🤞
- Within a mere three months, Ninjacart’s operations scaled rapidly, delivering 15 tons of fruits and vegetables daily to over 120 retailers. Subsequently, 98% of these retailers became daily customers, culminating in a 20 CR investment led by Accel in March 2016. By sourcing directly from farmers, Ninjacart achieved a mere 3.8% food wastage, significantly lower than the industry average of 30%. ✅
- Ninjacart’s growth trajectory continued as it facilitated over 100 farmers to supply more than 80 varieties of produce daily to over 500 retailers and restaurants in Bangalore. April 2017 saw another investment of 37 CR led by Accel, enabling Ninjacart to expand its operations to Hyderabad and Chennai, realizing Thiru’s ambitious vision. 💪
- By the close of 2018, Ninjacart had expanded its network to encompass over 3000 farmers and efficiently transported fresh produce to more than 4,000 retailers within a span of 12 hours. With a remarkable 15% increase in revenue for farmers, Ninjacart extended its reach to seven cities, transacting a staggering 1400 tonnes of produce daily. A funding infusion of 221 CR, led by Syngenta Ventures, underscored its rapid ascent. 💰
- Leveraging its proprietary farmer harvest calendar, Ninjacart surged ahead, engaging 13,500 farmers across 20 states and serving 17,000 retail outlets and eateries in seven cities. In April 2019, a monumental investment of 699 CR from Tiger Global marked a significant milestone for the company. 👇
- The pinnacle of Ninjacart’s journey arrived on December 13, 2021, with a staggering investment of Rs 1095 CR from the esteemed US retail giant Walmart and its Indian e-commerce counterpart, Flipkart, propelling it to the status of a 6000 CR company. 📉
Today, Ninjacart stands as a testament to perseverance and innovation, collaborating with 800,000 farmers and 100,000 retailers across 120 locations in India. Valued at 6700 CR, it recently allocated 100 CR to reward its dedicated employees for their contributions. Thirukumaran Nagarajan’s remarkable odyssey, starting with just Rs 500 and nights spent in Karnataka’s vegetable markets, serves as an inspiration to all aspiring entrepreneurs. 🙏