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May, 10 2019

HealthKart raises $25 mn funding from Sofina

The funds will be used for expanding HealthKart’s offline store network, developing additional direct-to-consumer nutrition brands and strengthening its vertical integration.

HealthKart, India’s largest omnichannel nutrition platform, has raised $25 million in a fresh round of financing from Sofina. The company, which is owned by Bright Lifecare Pvt Ltd, is claiming to be India's only pure-play online/offline nutrition platform.

The funds will be used for expanding HealthKart’s offline store network, developing additional direct-to-consumer nutrition brands and strengthening its vertical integration.

The HealthKart omni-channel platform is the core customer education and acquisition tool for the firm. It consists of an online portal and over 110 offline stores spread across 40 cities. The company is aiming to expand the store network, and further also leverage data and AI technologies to offer superior assistance to customers.

Sameer Maheshwari, Founder & CEO, HealthKart said, “With a strong focus on product development, manufacturing and distribution, our mission is to make health and nutrition mainstream and bring best-in-class nutrition solutions to customers. We are very excited to partner with Sofina, who have deep experience in investing in consumer brands, for the next phase of our growth.”

Tanya Sen, Investment Manager at Sofina Asia, added, “We look forward to partnering with HealthKart to further expand its brand portfolio and distribution network in the fast-growing nutrition & wellness space in India. We are impressed by the pace at which the management team has scaled the MuscleBlaze brand and are proud to back their commitment to building a range of high quality, authenticity-guaranteed products for the Indian consumer. This investment is part of our strategy to be long term partners to talented entrepreneurs and investors building sustainable businesses in growing markets.”

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