The tech giant, Amazon is in talks with the Indian supply chain firm, NinjaCart to make a huge investment as to have a foothold in the logistics and supply chain sector, according to a media report.
The discussions, which are still at an exploratory stage, have been ongoing since NinjaCart was in the midst of closing its $100 million equity financing round led by New York-based investment firm Tiger Global Management, three anonymous sources told daily news, The Economic Times.
In the recent funding round of NinjaCart, Steadview Capital was one of the investors who made an undisclosed amount of the offering.
NinjaCart received significant interest from other retail conglomerates, sources cited above told.
The deal talks may not eventually materialise in investment from Amazon, cited- sources also stated.
The recent developments have occurred when Amazon is assessing its entrance in fresh produce niche, which is deemed one of the largest segments but is an intricate segment.
Since the tech giant sells its grocery items via Amazon Pantry and Amazon Now, however, it has not fully entered in the fresh produce space. The tech company has also invested INR 240 crore in its retail business which alludes a strategy to limit its presence in the segment.