Temasek leads a $135 million fundraising round for HealthKart
- ByStartupStory | December 6, 2022
HealthKart, a company that sells nutritional supplements, has raised $135 million in a funding round that was co-led by Temasek, a Singaporean investor, and included local venture capital companies A91 Partners and Kae Capital.
HealthKart’s financial advisor for the transaction was Avendus Capital.
The business stated in a statement that it will use the money from the series H round to acquire companies, grow internationally, and market its brands.
“A systematic trend that is gaining significant traction in India is addressing nutritional gaps in order to promote fitness and preventive health. We are excited to set the standard with HealthKart’s R&D capabilities and omni-channel distribution infrastructure, said Sameer Maheshwari, founder and CEO of HealthKart.
The company claimed to hold the online health supplement brands HKVitals and MuscleBlaze, as well as an annualized revenue run rate of Rs 1,000 crore. It claimed that more than a million customers use its products on various platforms each month.
“HealthKart has the chance to create the biggest and most influential consumer brand in the nutritional and health market. It is a leader in digital first who successfully converted to an omni-channel company, achieving market leadership over the previous five years in the markets it serves, according to VT Bharadwaj of A91 Partners.
“HealthKart is the only D2C nutrition platform in India with a vertical focus. It seeks to meet the growing nutritional needs of India’s health-conscious population. According to Neeraj Shrimali, executive director of digital and technology investment banking at Avendus Capital, Sameer and the HealthKart team have developed strong brand awareness and customer trust.
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