Omnichannel nutrition platform HealthKart has raised $153 million led by ChrysCapital and Motilal Oswal Alternates. Existing investor A91 Partners along with Neo Group also participated in the new round.
HealthKart owns and operates several nutrition brands including MuscleBlaze, HKVitals and Gritzo. Apart from online presence, the firm has over 200 retail stores across 90 cities.
In December 2022, HealthKart raised $135 million led by Temasek with participation from A91 Partners and Kae Capital. According to the startup data intelligence platform TheKredible, the Gurugram-based firm has raised around $360 million to date.
As per the company’s press release, it crossed 1,000 crore in revenue threshold in FY24, and also achieved full year EBITDA profitability during the said fiscal year. While the firm has yet to file the audited numbers officially, it recorded Rs 832 crore revenue in FY23 with a loss of Rs 76 crore.
HealthKart spun off its generic drug search business, HealthKartPlus, in 2015 and rebranded it as 1mg, which now operates under Tata 1mg Technologies Private Limited.
Along with the funding, HealthKart has also announced its first ever employee ESOP buyback plan worth Rs 55 crore ($6.5 million). The buyback will benefit both current as well as former employees.
According to TheKredible’s data, more than 20 startups have implemented ESOP buyback, liquidity, and payout programs worth around $200 million in the ongoing calendar year (2024).
By Entrackr : Latest Posts
Source: Entrackr : Latest Posts