HealthKart, a consumer nutrition platform, on Monday announced that it raised $135 million in a round led by Temasek, with participation from A91 Partners and Kae Capital.
The company will use the funds to build in-house D2C brands, increase offline distribution, expand international operations and make acquisitions. While it did not disclose its valuation, several reports estimated the company to be valued around $300-400 million.
The fitness and well-being centric startup delivers protein supplements and vitamins. It operates several digital first brands, including MuscleBlaze, HK Vitals, TrueBasics, bGreen and Gritzo, across various nutrition segments such as proteins, dietary supplements and healthy foods.
The Sequoia-backed startup said its annual revenue run rate (ARR) was over Rs 1,000 crore and claims to be the leader in the space, thanks to its omni-channel nutrition retailer network. The company has over 140 stores spread across more than 50 cities. HealthKart products are used by more than a million consumers every month.
“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 (research and development) capabilities and omni-channel distribution infrastructure, we are excited to lead the way,” Sameer Maheshwari, founder and CEO, HealthKart said. “HealthKart has the opportunity to build the largest and most significant consumer brand in the health and nutritional space… (the company aims to) expand the health and supplement basket to new categories, high protein food and new customers — kids.” said VT Bharadwaj, general partner, A91 Partners.