Temasek backs India’s HealthKart in $135 million funding


Indian user weight reduction map platform HealthKart has raised $135 million in a brand new financing spherical as it appears to be like to elongate in worldwide markets and shore up money to take corporations, it acknowledged Monday.

Temasek led the Gurgaon-headquartered company’s Sequence H funding, valuing the 11-365 days-frail startup at about $350 million. The startup, which also counts Sequoia India, Sofina and IIFL among its backers, has raised about $225 million up to now, per market be taught company Tracxn.

HealthKart, which sells protein supplements and health gear, acknowledged it’s far at the moment on observe to generate over $122 million in annual income.

“Driving health and preventive health by addressing the nutritional gaps is a systemic vogue which is taking off in a huge technique in India. With HealthKart’s R&D capabilities and omni-channel distribution infrastructure, we are mad to lead the technique,” acknowledged Sameer Maheshwari, founder and chief executive of HealthKart, in an announcement.

The startup acknowledged this can deploy the new funds to elongate its offline presence and also scale its operations in worldwide markets. The omni-channel weight reduction map retailer at the moment operates over 140 stores during 50 Indian cities.

In 2015, 1MG spun off from HealthKart and bask in change into a separate company. Tata Digital got majority stakes in 1MG at a valuation of over $400 million remaining 365 days.

Temasek backs India’s HealthKart in $135 million funding by Manish Singh within the originate published on TechCrunch