Walmart-backed Ninjacart empowers Mayani with fresh strategic investment
Philippine ag-tech start-up Mayani has secured new investment from India’s Walmart-backed Ninjacart,through its venture funding arm, NinjaVentures. The strategic partnership sees Ninjacart invest capital as well as its cutting-edge supply chain technology and advisory services to fuel Mayani’s innovation and growth trajectory. Ninjacart will also support Mayani’s expansion efforts and jointly establish an integrated Asian agri-food supply chain.
The partnership will focus on identifying and addressing global food supply gaps, leveraging cross-border opportunities to amplify Mayani’s market presence.
Mayani will integrate Ninjacart’s advanced technology, source traceability, and inventory management solutions to achieve inter-operability, hyper-efficiency, and predictive modeling to intelligently match agri-supply with market demand.
Ninjacart’s entry into Mayani coincides with follow-on funding from existing investors, including the Jimenez family, after Mayani’s successful US$1.7m seed round led by AgFunder in 2023.
With over three times revenue growth in the same fiscal year and positive margins, Mayani co-founder and chief farmer Ochie San Juan said the company had demonstrated strong business fundamentals for further expansion and impact. He expressed his enthusiasm about how the new partnership could facilitate continued growth.
“Ninjacart’s deep understanding of the Asian agri-supply chain, excites us. It strengthens the locus of our business [and] further reinforces our upstream interventions on climate-positive inputs and rural financing,” said San Juan.
Ninjacart co-founder and chief executive, Kartheeswaran K K, said: “Our investment in Mayani reflects our unwavering commitment to revolutionise 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.”
