HealthKart, the Omnichannel nutrition retailer, has raised $135 million in a Series H funding round led by Singapore’s sovereign fund Temasek. A91 Partners and Kae Capital also participated in this funding round. As per reports, the post-money valuation of the company has touched $370 million.
HealthKart will use the funds to boost its offline presence, grow its direct-to-consumer brands, and expand international operations.
“Driving fitness and preventive health by addressing the nutritional gaps is a systemic trend which is taking off in a big way in India. With HealthKart’s R&D capabilities and omni-channel distribution infrastructure, we are excited to lead the way,” said Sameer Maheshwari, founder and chief executive officer of HealthKart.
“HealthKart has the opportunity to build the largest and most significant consumer brand in the health and nutritional space. It is a digital first pioneer which has successfully transitioned into an omni-channel business, and achieved market leadership in the past five years in the segments it operates in,” said VT Bharadwaj, of A91 Partners.
HealthKart was founded by Maheshwari and Prashant Tandon back in 2011. The company owns some popular brands including MuscleBlaze, The Protein Zone, TrueBasics, HKVitals, bGreen, Nouriza, and Gritzo. Both the co-founders also founded 1mg which was later acquired by Tata group in 2021.
The company claims to have more than a million monthly consumers via 140 offline stores and e-commerce sites. HealthKart also boasts Rs. 1,000 crores in annual revenue run rate.
