HealthKart, India’s largest omnichannel nutrition platform, has secured $153 million in funding from ChrysCapital and Motilal Oswal Alternates.
Existing investors A91 Partners and Neo Group also participated in the round, with Avendus Capital serving as the exclusive financial advisor.
HealthKart crosses INR 1000 Cr in revenue
Notably, the health tech company achieved significant milestones in FY24, crossing INR 1,000 crore in revenue and attaining full-year EBITDA profitability. The company plans to utilise the funds to strengthen its power brands and expand its presence in international markets.
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Meanwhile, Sameer Maheshwari, Founder and CEO of HealthKart, stated in the media release, “We welcome ChrysCapital and Motilal Oswal to HealthKart and hope to leverage their expertise during the next phase of growth. Very excited about our first ESOP buyback program which will create meaningful value for people who have played a critical role in building HealthKart. We firmly believe that people are our greatest asset and we aim to align their personal success with the company’s long-term vision.”
HealthKart announces INR 55 Cr ESOP for employees
Further, HealthKart announced an employee ESOP buyback worth INR 55 crore, benefiting both current and former employees who contributed to the company’s growth.
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“ChrysCapital is excited to partner with HealthKart as it embarks on its growth journey. The Indian sports nutrition market is expected to expand due to rising fitness awareness and nutrition importance. MuscleBlaze stands out as a leading brand, supported by proprietary channels, while HK Vitals offers high-quality nutraceuticals,” commented Arpit Vinayak, Vice-President of ChrysCapital.
Rohit Mantri, Co-Head and Managing Director of Private Equity at Motilal Oswal Alternates, added, “We’re excited to partner with HealthKart in its next growth phase. The company has demonstrated a strong track record of creating market-leading consumer health brands through differentiated products and multi-channel distribution. HealthKart’s commitment to providing high-quality, affordable dietary supplements aligns perfectly with our objectives of promoting healthier lifestyles.”
