Foodtech platform HealthKart on Monday said it has raised $135 million in a funding round led by Temasek, with participation from A91 Partners and Kae Capital.
The omni-channel nutrition retailer said the funds raised will be deployed towards the growth of in-house direct-to-consumer (D2C) brands, increase offline distribution, expand international operations and make select acquisitions.
“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,” said Sameer Maheshwari, Founder and CEO, HealthKart.
At more than Rs 1,000 crore annual revenue run rate, HealthKart has two leading brands – MuscleBlaze and HKVitals.
MuscleBlaze now has 25 per cent share of India’s sports nutrition market while HKVitals has 20 per cent share of online health supplement market, the platform claimed.
“It is a digital-first pioneer which has successfully transitioned into an omni-channel business, and achieved market leadership in the past five years in the segments it operates in,” said VT Bharadwaj from A91 Partners.
The company said its products are being used by more than a million consumers every month and are widely distributed across multiple channels — healthkart.com, D2C websites, offline grocers/chemists, 140+ HealthKart offline stores — as well as leading e-commerce and quick commerce platforms.