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Omnichannel health products retailer HealthKart announced on Monday that it has secured $135 million from new and existing investors to drive the platform’s next phase of growth.
Singapore’s state-owned investment firm Temasek and Indian growth-focused investor A91 Partners have joined as new investors. Existing investor Kae Capital also participated in the round.
The startup did not say whether all the money went into the company or whether it included the sale of secondary stakes. The venture has previously also raised capital from Sequoia, Omidiar, IIFL and Sofin.
The deal is believed to have valued the company at around $450-500 million, as cash.
“At HealthKart, our mission is to bring best-in-class nutrition to everyone. The main pillars of our business are the brand, omnichannel distribution and R&D infrastructure. We will continue our investments in innovation and improvement of preventive care solutions, strengthening existing brands, as well as building adjacent categories,” the company announced.
“In addition, we will take the platform internationally and also evaluate strategic opportunities in the field of nutrition,” it added.
HealthKart, which runs Bright Lifecare Pvt. Ltd, was co-founded by Sameer Maheshwari and Prashant Tandon in 2011.
HealthKart also launched online pharmacy 1mg, which was spun off as a separate entity seven years ago. Tandon moved out of the company when 1mg was dropped. Maheshwari stayed with the company and now heads Healthkart.
1mg, formerly called HealthKart Plus, has been separately backed by several investors, including some common shareholders.
Last year, the Tata Group bought a majority stake in 1mg to compete with others in the field such as Netmeds and Pharmeas owned by Reliance Industries.
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