Walmart-backed Ninjacart invests in Philippine agritech firm Mayani

Ninjacart, an Indian agritech startup backed by Walmart, has formed a strategic partnership with the Philippine B2B agritech firm, Mayani. 

The collaboration is designed to enhance Mayani's growth and innovation through capital investment, advanced supply chain technology, and advisory services. Ninjacart's venture capital arm, NinjaVentures, facilitated this investment, aiming to expand its influence in the global agriculture sector.

Kartheeswaran K K, Co-Founder and CEO of Ninjacart, said, “Our investment in Mayani reflects our unwavering commitment to revolutionize global agri-commerce. By bridging the expertise of two agricultural powerhouses, India and the Philippines, we aim to create a transformative impact and unlock new opportunities in the Asian agri-commerce landscape and beyond.”

What does this partnership entail?

The partnership between Ninjacart and Mayani aims to create an integrated Asian agri-food supply chain. The initiative is expected to drive digital innovations that address the complexities of Asia's diverse food demands. 

Ochie San Juan, Co-founder and Chief Farmer at Mayani, highlighted the strategic value added by Ninjacart, saying, “It strengthens the locus of our business, which is tech-enabled output market linkage, that further reinforces our upstream interventions on climate-positive inputs and rural financing.”

Mayani will utilize Ninjacart's technology for source traceability and inventory management and to achieve interoperability and hyper-efficiency within its supply chain.

Growth and expansion plans

Both Ninjacart and Mayani have strong growth trajectories. Mayani, which recently secured $1.7 million in a seed funding round led by AgFunder, has shown substantial revenue growth and positive margins.

Ninjacart's investment coincides with additional funding from existing Mayani investors, including the Jimenez family, which supports further expansion efforts.

Impact on local and global agriculture

This partnership is set to impact both local and global agriculture markets. Mayani supports over 144,000 smallholder farmers and fisherfolk across the Philippines, optimizing the supply chain and connecting producers with B2B markets. The collaboration aims to strengthen Mayani’s offerings like climate-positive agricultural inputs and rural financing solutions.