India-based produce sourcing platform Ninjacart has completed a Rs 250m ($34.7m) series B round that included mobile semiconductor producer Qualcomm and crop seed developer Syngenta, YourStory reported on Tuesday.
Qualcomm Ventures and Syngenta Ventures, the respective corporate venturing arms of Qualcomm and Syngenta, were joined by NeoPlux, a subsidiary of conglomerate Doosan.
Venture capital firm Accel led the round, which included its Accel India offshoot as well as HR Capital, Trifecta Capital, Misteltoe and private investors Nadan Nilekani and Jo Hirao.
Ninjacart has developed an online platform that connects food retailers with farmers, enabling supermarkets to find and directly source fresh produce. The company intends to use the series B funding to bring the service to 10 more Indian cities and open new distribution centres across the country.
63Ideas Infolabs, the owner of Ninjacart, secured approximately $4.9m in funding from Accel, NRJN Trust and Mistletoe in July 2018, five months after it raised $1m in debt financing from Trifecta Capital.
Qualcomm Ventures had led a $5.5m round for Ninjacart in 2017 that included Accel, NRJN Trust, Mistletoe and M&S Partners. It came after the company secured $3m from Qualcomm Ventures, Accel, M&S Partners and ZopSmart, the owner of grocery e-commerce platform ZopNow, in 2016.