Venture Capitalists News Hubb
Advertisement Banner
  • Home
  • Venture Capital Market
  • Venture Capital Funding
  • Contact
No Result
View All Result
  • Home
  • Venture Capital Market
  • Venture Capital Funding
  • Contact
No Result
View All Result
Venture Capitalists News Hubb
No Result
View All Result
Home Venture Capital Market

The Capital Quest | HealthKart pulls in $135 mn from Temasek, A91 Partners, others

admin by admin
December 5, 2022
in Venture Capital Market


Omnichannel health products store HealthKart said Monday it has secured $135 million from new and existing investors to drive the next phase of growth of the platform.

Singapore state investment firm Temasek and Indian consumer-focused growth equity investor A91 Partners joined as new investors. Existing investor Kae Capital also participated in the round.

The startup did not say if the entire money went into the company or if it includes some secondary stake sale. The venture had previously also raised capital from Sequoia, Omidyar, IIFL and Sofina.

The deal is believed to have valued the company at around $450-500 million, post money.

“At HealthKart, our mission is to bring best in class nutrition for everyone. The core pillars of our business are brand, omnichannel distribution and R&D infrastructure. We will continue our investments to innovate and improve preventive care solutions, strengthen our existing brands, and also build adjacent categories,” the firm said.

“Additionally, we will take the platform international, and also evaluate strategic opportunities in the nutrition space,” it added.

HealthKart, run by Bright Lifecare Pvt. Ltd, was co-founded in 2011 by Sameer Maheshwari and Prashant Tandon.

HealthKart had also floated an online pharmacy 1mg, which was hived off as a separate entity seven years ago. Tandon moved out of the company when 1mg was hived off. Maheshwari remained with the company and leads Healthkart now.

1mg, which was earlier called HealthKart Plus, was separately backed by several investors including some common shareholders.

Last year, Tata Group bought a majority stake in 1mg to compete with others in the field like Reliance Industries-owned Netmeds and Pharmeasy.

Related



Source link

Previous Post

The Investor’s Guide to Stablecoins

Next Post

Awfis raises additional Rs 15 Cr in Series E round

Next Post

Awfis raises additional Rs 15 Cr in Series E round

Recommended

Total losses surge at BharatPe in FY 2022, operating loss triples

1 month ago

OFAC Lawsuit Details Crypto Industry’s Sanction Concerns

5 months ago

Uber sees few signs of customer pullback despite inflation

3 months ago

From product-tech startup to home services unicorn, the long and winding journey of Urban Company

3 months ago

The Capital Quest | Marathon Edge-backed KPIT Technologies strikes over $100-mn deal

5 months ago

The Capital Quest | Suplyd, MyHealth Africa and Agroserv get funding cheques

2 months ago

© 2022 Venture CapitaLists News Hubb All rights reserved.

Use of these names, logos, and brands does not imply endorsement unless specified. By using this site, you agree to the Privacy Policy and Terms & Conditions.

Navigate Site

  • Home
  • Venture Capital Market
  • Venture Capital Funding
  • Contact

Newsletter Sign Up.

No Result
View All Result
  • Home
  • Venture Capital Market
  • Venture Capital Funding
  • Contact

© 2022 Venture Capitalists News Hubb All rights reserved.