Ninjacart invests in Philippine agritech firm Mayani

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Agritech firm Ninjacart has partnered with Philippine-based B2B agritech innovator Mayani in a landmark deal. This strategic partnership sees Ninjacart deploying capital alongside cutting-edge supply chain technology and its advisory services to fuel Mayani’s innovation and growth.

Ninjacart will also support Mayani’s expansion efforts and jointly establish an integrated Asian agri-food supply chain that would catalyse more digital innovations geared to address Asia’s complex food basket, the company said in a statement.

Ninjacart’s investment in Mayani, facilitated through its venture funding arm, NinjaVentures, marks a significant step in its international expansion strategy. 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, predictive modelling and to enhance its supply chain efficiency.

Strong fundamentals

Ninjacart’s entry into Mayani coincides with follow-on funding from existing investors, including the Jimenez family, after Mayani’s successful $1.7 million seed round led by AgFunder in 2023. With over three times revenue growth in the same fiscal year and positive margins, Mayani demonstrates strong fundamentals for further expansion and impact. “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,” said Kartheeswaran K K, Co-Founder & CEO, Ninjacart.

Ochie San Juan, Co-founder and Chief Farmer at Mayani said “The strategic additionality beyond capital, coupled with Ninjacart’s deep understanding of the Asian agri-supply chain, excites us about this investment.”

Ninjacart’s key investors, such as Walmart, Accel and Tiger Global, have been instrumental in shaping its trajectory. This milestone highlights the aligned vision of Ninjacart and its investors to meet the evolving demands of agricultural ecosystems through NinjaVentures. NinjaVentures is a notable global endeavour committed to sharing Ninjacart’s technological expertise, knowledge and skills with emerging start-ups worldwide, aiming to transform agricultural supply chains in a manner akin to the challenges faced by nations like the Philippines.

Mayani boasts a vast grassroots network of over 1,44,000 organised smallholder farmers and fisherfolk across the Philippine archipelago. Its multi-point value chain platform optimises supply chain dynamics, connecting fragmented supply with B2B market demand seamlessly. Moreover, Mayani’s ancillary agro-services empower smallholders, enhancing yield and climate resilience through quality agricultural inputs and facilitating rural financial inclusion.