U.S. retailing major Walmart intends to make a $50 million investment in Ninjacart, an Indian business to business fresh produce supply chain startup.
As part of the financing deal, Ninjacart is expected to receive the first tranche of $10 million in the next three weeks or so.
Walmart is likely to back Ninjacart with an intention to further penetrate the international retail and grocery market.
With the planned financing, Walmart may be included in Ninjacart’s board of directors.