Ninja Raises $2.8 Million to Expand 10-Minute Grocery Delivery Service in Canada
Ninja Raises $2.8 Million to Expand 10-Minute Grocery Delivery Service in Canada
Toronto – Commercializing the first 10-minute grocery and essentials delivery service in Canada, Ninja has raised $2.8 million from Lachy Groom, Flexport and Contrary Capital to accelerate its growth.
“This new round of investment allows us to speed up our store expansion plans and bring 10-minute delivery of grocery and consumer essentials to more homes in Canada,” said Wesley Yue, CEO, Ninja. “Canada’s ecommerce penetration of the grocery market is only 8 per cent. As the ecommerce share of grocery spend in Canada continues to climb, we are certain that the grocery stores of the future will be built to serve online purchases from the ground up, rather than as an afterthought to existing grocery infrastructure.”
Capitalizing on Market Opportunity
The Canadian grocery market is now worth more than $100 billion, making 2021 a significant year for Ninja, which has seen consistent double-digit week-over-week growth. Founders Wesley Yue, CEO (ex-Waymo), Michael Markevich, head of operations (ex-Lime, Uber), Gonzalo Graham, head of product (ex-Tesla) set up the first store in Waterloo, Ontario, quickly followed by two additional stores in downtown Toronto. They recruited their core team from the likes of Uber, DoorDash, Zomato and Goodfood. Their staff now
exceeds 80. The company has an aggressive expansion plan in 2022 to grow its footprint across Canada and increase its product selection to more than 2,500 SKUs.
Ninja’s proprietary dispatching algorithm makes couriers more efficient compared to industry standards, doubling orders delivered per hour to enable 10-minute grocery delivery in Toronto and Waterloo. Unlike some last mile delivery services, Ninja delivers out of its own dark stores where they hold more than 1,300 products in diverse categories that include alcohol, Ontario-raised meat and produce, beverages, health, bath & beauty, cleaning and home and office products.
To reduce their carbon footprint, Ninja couriers complete all deliveries on e-bikes. Open until 2 a.m. in Toronto and 3 a.m. in Waterloo, Ninja offers free delivery for purchases over $10.
