Philippine-based agritech startup Mayani has announced a strategic partnership with Ninjacart, a Walmart-backed agritech firm headquartered in India.
The partnership sees Ninjacart deploying capital and supply chain technology to further boost Mayani’s innovation and growth trajectory, according to the announcement.
Financial details of the investment were not disclosed. Mayani said Ninjacart, which invested through its venture funding arm NinjaVenture, will also provide advisory services.
Ninjacart claims to be India’s largest agri-tech company that builds commerce, finance, and fulfilment solutions to help build better lives for farmers.
Aside from Walmart, Ninjacart’s key shareholders also include US venture capital investor Accel and tech investment major Tiger Global.
So far, it has built products that cater to each segment and their unique needs — Ninjacart for retailers, Ninja Mandi for traders, Ninja Global for importers and exporters, Ninja Kirana for retailers, and Ninja Kisaan for farmers.
“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,” said Kartheeswaran K K, co-founder and CEO, Ninjacart.
Mayani said it will integrate Ninjacart’s advanced technology, source traceability, and inventory management solutions to achieve inter-operability, hyper-efficiency, predictive modeling, and to enhance its supply chain efficiency.
The investment comes after Mayani’s successful $1.7 million seed round in 2023, led by Silicon Valley-based agritech investor AgFunder, with participation from Atlas Ventures and Accelerating Asia Ventures.
“The strategic additionality beyond capital, coupled with Ninjacart’s deep understanding of the Asian agri-supply chain, excites us about this investment,” said Ochie San Juan, co-founder and chief farmer at Mayani.
San Juan added that the partnership strengthens the focus of Mayani’s business, which is tech-enabled output market linkage.
Mayani said it has a grassroots network of over 144,000 organized smallholder farmers and fisherfolk across the Philippine archipelago.
Its multi-point value chain platform optimizes supply chain dynamics, connecting fragmented supply with B2B market demand seamlessly.