Tiger Global pumps Rs 625 crore in NinjaCart - ETtech

Tiger Global pumps Rs 625 crore in NinjaCart - ETtech

  • Tiger Global has invested Rs 625 crore in NinjaCart , picking up a little less than 26.5% stake and valuing the agri-tech startup at over $320 million, in what is arguably the largest initial cheque written by the New York-based investment powerhouse.
  • The Bengaluru-based 63Ideas Infolabs, which owns and operates Ninjacart, has issued 20,442 Series C compulsorily convertible preference shares at Rs 3,04,142.78 per share, according to filings submitted by NinjaCart to the Registrar of Companies, and which have been accessed by business signals provider paper.vc.
  • The investments in CleverTap, followed by NinjaCart, are among the first cohort of bets placed by the storied investment firm, following its announcement in March that its influential, and famously reticent, partner Lee Fixel would be leaving the firm at the end of June.
  • NinjaCart counts marquee Silicon Valley-based venture capital firm Accel Partners US, Syngeta Ventures, Accel India Neoplux, Qualcomm Ventures and Trifecta Capital among its list of institutional backers.

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