HealthKart, a consumer nutrition platform, has raised $135 million in a funding round led by Temasek, along with the participation from A91 Partners and Kae Capital.
The fresh capital will be used to grow in-house D2C brands, increase offline distribution, expand international operations, and make select acquisitions. Avendus Capital acted as the financial advisor to HealthKart on the transaction.
Million customers a month
HealthKart said it has ₹1,000 Cr+ annual revenue run rate, across its two brands including MuscleBlaze, a sports nutrition brand and HKVitals, an online health supplement brand. The company said its products are used by more than a million consumers every month across multiple channels including healthkart.com, D2C websites, offline grocers/ chemists, 140+ HealthKart offline stores as well as e-commerce and quick commerce platforms.
Commenting on the fundraise, Sameer Maheshwari, Founder & CEO, HealthKart said, “We are delighted to partner with Temasek and A91 Partners in our mission to deliver innovative, high quality, yet affordable preventive care solutions to Indian consumers. 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.”
VT Bharadwaj from A91 Partners added, “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. We are excited to support Sameer and his team as they double down on their core offering and expand the health and supplement basket to new categories (high protein food) and new customers (kids).”