HealthKart Raises $135 Million From Temasek And A91 Partners
The fund raised will be deployed towards the growth of in-house D2C brands, increase offline distribution, expand international operations, and make select acquisitions
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HealthKart, India's leading 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 fund raised will be deployed towards the growth of in-house D2C brands, increase offline distribution, expand international operations, and make select acquisitions. Avendus Capital acted as the exclusive financial advisor to HealthKart for the transaction.
"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," said Sameer Maheshwari, founder and CEO, HealthKart.
HealthKart, at over INR 1,000 crore annual revenue run rate, is a leading player in the consumer nutrition market with two leading brands - MuscleBlaze, a sports nutrition brand, and HKVitals, an online health supplement brand. MuscleBlaze has grown rapidly over last few years and now has 25 per cent share of India's sports nutrition market. HKVitals has 20 per cent share of online health supplement market, claimed by the company in a statement.
"HealthKart has the opportunity to build the largest and most significant consumer brand in the health and nutritional space. 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)," said VT Bharadwaj from A91 Partners.