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Healthkart raises 80 crore Series-E funding led by Sequioa Capital

Healthkart raises 80 crore Series-E funding led by Sequioa Capital- mybigplunge

Startup & Entrepreneurship

Healthkart raises 80 crore Series-E funding led by Sequioa Capital

Aiming to focus more on its leadership in the fitness and nutrition space, online fitness and nutrition portal has raised Rs 80 crore (about $12 million) in its series E round of funding led by Sequioa Capital.

Existing investors other than Sequioa Capital like Omidayr Network and Kae Capital also took part in the funding round.

The raised funds will be used to build upon its leadership in the fitness and nutrition space – with investments in its assistance and content capabilities, portfolio expansion into additional nutrition segments and expansion into the offline space.

Sameer Maheshwari, the co-founder of Healthkart, said, “Fitness is a very engaged and assistance-oriented category and customers trust us across their fitness lifecycle—from seeking advice from expert trainers/nutritionists, connecting with other fitness enthusiasts, specialist curation of products, customer reviews and buying authentic nutrition products.”

Founded by Maheshwari and Prashant Tandon in 2011, the online portal has focused on the fast growing fitness and nutrition space since the beginning. The portal offers curated nutrition products along with detailed reviews and expert assistance by nutritionists on exercising and dieting regimes.

Healthkart sells consumables such as protein supplements and vitamins and has more than 200 brands and authorised vendors on its platform. The startup claims to attract over a million visitors every month.

Though it has not disclosed the amount of current business driven by the private-label products, it has its nutrition and supplements category called MuscleBlaze and Incredio.

Healthkart acquired online bodybuilding and fitness supplement store in 2012. Last year, it hived off its online drug store business HealthKartPlus into a separate entity and named it 1mg Technologies Pvt Ltd.

The Gurgaon-based company has raised funds from Switzerland-based HBM Healthcare Investments in May to top up its Series B round the month before.

Last month, 1mg acquired, a platform which allows users to book diagnostic imaging tests, for an undisclosed amount. Medd’s founders Arpit Kothari, Anurag Mundhada and Era Dwivedi joined 1mg. In October 2015, Medd raised $150,000 as a part of a bridge round and seed funding from Ajeet Khurana.

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