India-based B2B fresh produce supply chain company Ninjacart is making investment in machine learning to improve operations.
“We are investing in machine learning to improve forecasting, pricing engine, and crop recommendation to farmers based on our 5 years of data and research,” Thirukumaran Nagarajan, CEO and Co-founder of Ninjacart, said.
This will lead to lower food wastage and create higher predictability and sustainability for both farmers and us. “We continue to invest in supply chain technology and infrastructure to reach more customers and farmers contributing to the growth prospect of the sector enormously,” he added.
The Ninjacart CEO said the platform leverages radio frequency identification (RFID) technology to track deliveries. The platform in the past has leveraged deep machine learning to perfect forecasting to 97 percent and reduce the overall wastage to 4 percent.
Ninjacart also has specific apps for the farmers to help them with demand forecasting, harvest planning and determining the price indent.
Ninjacart on October 12, 2020 announced Walmart and Flipkart made a fresh round of investment in the innovative startup disrupting India’s fresh produce market with its made-for-India business-to-business (B2B) supply chain infrastructure and technology solutions.
This follows the investment made by Walmart and Flipkart in December 2019.
Ninjacart has already received investment from Tiger Global, Accel, Tanglin, Steadview, Syngenta, Nandan Nilekani and Qualcomm among other prominent investors.
As Flipkart grows its Supermart (grocery) and Flipkart Quick (hyperlocal) businesses, Ninjacart will continue to play a key role in providing fresh produce to consumers across the country as they increasingly look at e-grocery to meet their needs.
Ninjacart has built India’s low-cost last-mile network using an innovative network model coupled with data science. Its less-than-12 hours connectivity from farm to store helps avoid the need for control temperature supply chain for perishable goods.
Credit: Google News