Tiger Global invests $89 million in agri-tech startup NinjaCart
Deal marks one of Tiger?s largest first cheque in an Indian start-up.The deal could also be indicative of Tiger?s new approach to the Indian start-up ecosystem post the departure of Lee Fixel
- According to data compiled by paper.vc, Tiger's previous large initial investments were in startups such as Ola ($57.5 million), Delhivery ($43.6 million) and Hike ($43.2 million).
- While being one of the largest first cheques written by Tiger in India, the deal could also be indicative of Tiger's new approach to the Indian start-up ecosystem post the departure of Lee Fixel, who was credited for backing startups such as Flipkart and putting the Indian start-up ecosystem on the global map.
- New investors, including South Korean private equity firm Neoplux, founder of ZiGeXn Jo Hirao, Russian firm HR Capital and venture debt firm Trifecta Capital, also participated in the round.
- NinjaCart's existing investors Accel India, Nandan Nilekani NRJN Trust, Misteltoe and Qualcomm Venture also contributed.