The Bangalore based 63Ideas Infolabs Pvt Ltd which owns a business to business agriculture marketing platforms NinjaCart, is now going to secure $90 Million from the Tiger Global Management Venture.
The investor and hedge fund will now pick up around 26.74% stake in lieu of the investment, according to the report which has been revealed.
According to the report which has been revealed, the NinjaCart is securing the money at a valuation of around $321 Million.
In the last round of funding, NinjaCart has valued around Rs 624 crore. The four-year-old startup has secured the funding from the clutch of investors which includes the Edwin Yeo, Tiger Global executives, Tanglin Venture Partners, and others.
The fresh funding will now be going to be used for the expansion across the different cities, going by its recent foray into some of the new markets.
The company which was founded by the Sharath Loganathan, Sachin PJ, Nagarajan, Kartheeswaran and Ashutosh Vikram in the year 2015.
The company started began with a hyperlocal grocery delivery company but then later shifted to the Business to Business segment. Farmers can also now sell their fruits and vegetables directly to business establishments such as the retailers, shops, restaurants with the help of the platform.
Picture Credits: NinjaCart