Omnichannel nutrition platform HealthKart Secures $153 Million in Funding

HealthKart is an omnichannel nutrition platform has raised $153 million with ChrysCapital and Motilal Oswal Alternates leading the charge. Neo Group and current investor A91 Partners also took part in the fresh round.

HKVitals, Gritzo, and MuscleBlaze are just a few of the nutrition companies that HealthKart owns and runs. The company operates more than 200 retail locations in 90 cities in addition to its web presence.

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Temasek spearheaded HealthKart's $135 million fundraising effort in December 2022, with A91 Partners and Kae Capital joining in. As per TheKredible, a startup data analytics platform, the Gurugram-based company has raised over $360 million so far.

In FY24, it reached full-year EBITDA profitability and surpassed the 1,000 crore sales milestone. The company reported revenue of Rs 832 crore and a loss of Rs 76 crore in FY23, but it has not yet formally submitted the audited data.

In 2015, HealthKart changed the name of its generic medicine search company, HealthKartPlus, to 1mg, which is currently run by Tata 1mg Technologies Private Limited.

In addition to the cash, HealthKart has revealed its first-ever employee ESOP buyback scheme, valued at Rs 55 crore ($6.5 million). Both current and past employees will profit from the buyback.

Data from TheKredible shows that in the current calendar year (2024), over 20 firms have put in place ESOP repurchase, liquidity, and payout schemes totaling almost $200 million.

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