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Healthkart gets $12 mn from Sequoia, others for offline expansion

By Disha Sharma

  • 01 Aug 2016
Healthkart gets $12 mn from Sequoia, others for offline expansion

Gurgaon-based Bright Lifecare Pvt. Ltd, operator of online health store Healthkart.com, has raised Rs 80 crore (about $12 million) from a bunch of existing investors.

Sequoia Capital, Kae Capital and others, participated in the Series E round of funding, the Mint reported citing Healthkart's filings to the Registrar of Companies.

As per VCCEdge, the data research platform of VCCircle, Omidyar Network also participated in this round. 

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The company plans to use the funds for offline expansion and marketing strategies, the Mint reported citing Healthkart co-founder Sameer Maheshwai. 

Email queries sent to the company and investors did not elicit a response at the time of writing this report.

According to VCCEdge, the company had raised $12 million from Omidyar Network and Sequoia Capital in 2014. It mobilised $11 million from existing investors and Intel Capital in January last year.

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Founded in 2011 by Prashant Tandon and Sameer Maheshwari, Healthkart sells products in a broad range of categories such as fitness and nutrition supplements, sports nutrition, health devices, personal care, eye-care, parenting and pet care. Tandon is an MBA from Stanford University while Maheshwari has studied at Harvard Business School.

In 2012,  Healthkart acquired online body-building and fitness supplement store Madeinhealth.com.

Last year, HealthKart hived off its online drug store business HealthKartPlus into a separate entity and named it 1mg. Gurgaon-based 1mg Technologies Pvt Ltd in May raised funds from Switzerland-based HBM Healthcare Investments to top up its Series B round the month before. 

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The same month 1mg acquired Medd.in, a platform that operates a marketplace to book diagnostic and imaging tests, for an undisclosed amount.

In a similar segment, Smartcooky, media group NDTV’s yet-to-launch e-commerce marketplace for health foods and personal care products, has received an undisclosed amount in funding from Vandana Luthra, founder of health and wellness firm VLCC Health Care Ltd. 

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