Ninjacart, an agri-startup backed by Walmart, has announced a strategic investment in the Philippine B2B agritech company Mayani. The investment was facilitated through Ninjacart’s venture funding arm, NinjaVentures, marking a significant move in Ninjacart’s strategy for international expansion.
This partnership aims to deploy both capital and supply chain technology alongside advisory services to support Mayani’s growth initiatives. Together, Ninjacart and Mayani plan to establish an integrated Asian agri-food supply chain that will foster digital innovations to tackle the complexities of Asia’s food distribution networks.
Mayani will utilize Ninjacart’s advanced technology solutions, including source traceability and inventory management systems, to enhance supply chain efficiency and enable predictive modeling and hyper-efficiency. The collaboration is expected to address global food supply gaps and expand Mayani’s market presence through cross-border opportunities.
The partnership aligns with additional follow-on funding for Mayani from existing investors, including the Jimenez family, subsequent to a successful $1.7 million seed funding round led by AgFunder in 2023. Mayani has shown robust growth, achieving more than three times revenue increase in the last fiscal year with positive margins, indicating strong fundamentals for further expansion.
Kartheeswaran K K, co-founder & CEO of Ninjacart, expressed enthusiasm about the new venture, stating, “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.”
Ochie San Juan, Co-founder and Chief Farmer at Mayani, commented on the partnership, highlighting the strategic benefits beyond capital. “The strategic additionality beyond capital, coupled with Ninjacart’s deep understanding of the Asian agri-supply chain, excites us about this investment. It strengthens our tech-enabled output market linkage and further reinforces our upstream interventions on climate-positive inputs and rural financing,” said San Juan.
Ninjacart’s major investors, including Walmart, Accel, and Tiger Global, have played a significant role in shaping its growth trajectory. This partnership underscores Ninjacart’s commitment to leveraging its technological expertise, knowledge, and resources through NinjaVentures to transform agricultural supply chains globally, particularly in regions like the Philippines.
Mayani supports a vast grassroots network of over 144,000 smallholder farmers and fisherfolk across the Philippines, optimizing supply chain dynamics and connecting fragmented supply with B2B market demand. The company also provides ancillary agro-services that enhance yield and climate resilience, facilitating rural financial inclusion.
