Temasek backs India’s HealthKart in $135 million funding


Indian client diet platform HealthKart has raised $135 million in a brand new financing spherical because it seems to increase in worldwide markets and shore up money to purchase corporations, it mentioned Monday.

Temasek led the Gurgaon-headquartered agency’s Series H funding, valuing the 11-year-old startup at about $350 million. The startup, which additionally counts Sequoia India, Sofina and IIFL amongst its backers, has raised about $225 million up to now, based on market analysis agency Tracxn.

HealthKart, which sells protein dietary supplements and well being equipment, mentioned it’s at the moment on observe to generate over $122 million in annual income.

“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,” mentioned Sameer Maheshwari, founder and chief government of HealthKart, in a press release.

The startup mentioned it should deploy the recent funds to increase its offline presence and likewise scale its operations in worldwide markets. The omni-channel diet retailer at the moment operates over 140 shops throughout 50 Indian cities.

In 2015, 1MG spun off from HealthKart and have become a separate firm. Tata Digital acquired majority stakes in 1MG at a valuation of over $400 million final 12 months.

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