Healthtech startup HealthKart has raised $153 Mn in a funding round co-led by ChrysCapital and Motilal Oswal Alternates, with an INR 55 Cr ESOP buyback for employees. Known for brands like MuscleBlaze and HK Vitals, HealthKart aims to strengthen its offerings and expand globally. The startup reported strong financial growth, achieving EBITDA profitability in FY24 with revenues surpassing INR 1,000
Healthtech startup HealthKart has secured $153 Mn (INR 1,291 Cr) in a funding round co-led by ChrysCapital and Motilal Oswal Alternates, with participation from Neo Group and existing investor A91 Partners. The funding will bolster HealthKart’s “power” brands and expand its global footprint. The startup also announced an INR 55 Cr ESOP buyback program for current and former employees.
Founded in 2011 by Sameer Maheshwari and Prashant Tandon, HealthKart transitioned from selling generic drugs to focusing on an omnichannel consumer nutrition platform. It operates India’s largest online nutrition marketplace, featuring brands like MuscleBlaze, HK Vitals, and TrueBasics.
ChrysCapital’s vice president, Arpit Vinayak, highlighted India’s underpenetrated sports nutrition market and HealthKart’s strong growth potential, citing its robust management, brand portfolio, and marketing capabilities.
The startup saw its FY23 revenue grow 70% to INR 832.4 Cr while reducing its net loss by 50% to INR 164.7 Cr. HealthKart claims to have achieved EBITDA profitability in FY24, with revenues surpassing INR 1,000 Cr. This round adds to the $135 Mn it raised from Temasek in 2022, bringing its total funding to around $353 Mn.
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