Ninjacart, an agritech firm, witnessed a sustained growth trajectory in the last fiscal year With a 74% year-on-year growth in gross revenue. At the same time, the company has also reported a 20 percent reduction in losses. Having said that, this is an adjusted loss figure that excludes tech and infrastructure costs.

The firm's gross revenue further saw an upsurge from Rs 1,153.4 crore in FY23 to Rs 2,002.7 crore in FY24. The factor that drove the growth The premium product lines contributed to volume growth and improved gross margins, as per the firm’s press release.

Ninjacart is a marketplace that connects farmers, traders, and retailers, using technology to address supply chain challenges. Its approach includes targeted solutions like Ninja Mandi for traders and Ninja Kisaan for farmers. It has also partnered with local traders and retailers to strengthen its network so as to support local businesses.

Furthermore, it claimed that major operational improvements, which inlcuded AI-driven quality assessment, pricing algorithms, considerably helped Ninjacart to variabilize supply chain costs. However, the company hasn’t given any expense figure. 

Ninjacart has also reported a 20 percent reduction in adjusted losses, down to Rs 259.6 crore in FY24 from Rs 326.3 crore in FY23. This improvement highlights the company’s robust commitment to achieving profitability through operational efficiencies and cost management, said the release.

Apart from India, Ninjacart is also looking at the use case of its supply chain ecosystem in overseas countries. The company invested in Philippines-based  Mayani in April this year.

According to a credible startup data intelligence platform, Ninjacart has raised 2172 crore in total risk capital across several funding rounds. Also to note, Tiger Global is the largest stakeholder in the Bengaluru-based company which is then followed by Walmart, Accel Partners and Flipkart, respectively.