HealthKart is an omnichannel nutrition platform that has secured 153 million USD from Motilal Oswal Alternates and ChrysCapital in its ongoing funding round. This round saw the participation of several investors including Neo Group and A91 Partners. HealthKart provides an online platform for sports, health, and nutritional supplements. The startup plans to use these proceeds to scale its operations, enhance its platform, and expand its services.
The company aims to strengthen its position in the healthcare and nutritional market segment. The startup allows users to search and purchase health-related products online. The online platform also offers vitamins, supplements, sports nutrition, herbs, and more. The startup provides a healthcare services platform offering gym equipment, fitness accessories, and other health-related services. This investment shows investors’ trust in HealthKart’s market potential and business model.
The startup data intelligence platform, thekredible reported that the firm has raised around 360 million USD across multiple funding rounds since its inception, including $135 million raised from existing investors A91 partners, Temasek, and others during its series H funding round in 2022. The company has several nutrition brands, including HKVitals, Gritzo, and MuscleBlaze. The startup offers its products in 200 retail stores across 90 cities in India.
The Gurugram-based firm also announced its $6.5 million first ESOP buyback plan for current and former employees. HealthKart started as a generic drug search business that later on developed as a healthcare and nutrition brand. The company plans to use some of this investment to enhance its online platform and develop its market presence. The development came just after the nutritional platforms saw increased investor interest.
The healthcare startup posted an increase in its revenue threshold to Rs 1,000 crore for this financial year. The company is yet to announce its official report for FY24. The startup posted revenue of Rs 832 crore in FY23 with a loss of Rs 76 crore in the same duration. The firm also secured $25 million from Sofina and others in the series G funding round. HealthKart wants to transform the nutritional and healthcare market segment using its advanced technologies.
The data intelligence platform, tracxn mentioned that the firm has around 13 institutional investors including Peak XV partners, Intel Capital, and Kae Capital. The company faces competition from other healthcare products offering platforms such as Bright LifeCare and SastaSundar.
Conclusion :
HealthKart is a healthcare and nutrition startup offering nutritional supplements. The startup got fresh capital of $153 million from ChyrsCapital and Motilal Oswal Alternates. The funding round had participation from other investors including Neo Group and A91 Partners along with new investors. The company also announced its Employee ESOP buyback plan of $6.5 million for its employees.
The firm intends to use this investment to scale its operations, enhance its platform, and advance its technology. The company has raised around $360 million across multiple funding rounds since its inception. The startup claims to have its offline presence in 200 stores across 90 cities in the country and competes with other healthcare product offering platforms like Bright LifeCare.
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