01 July August 2016,
Healthkart, an online health products vendor owned by Bright Lifecare Pvt. Ltd, has raised Rs.80 crore in a Series E round of funding from existing investors Sequoia Capital India and Kae Capital among others. Healthkart will use the funds for offline expansion from the current 2 stores to 7-8 in the next 6 months, product expansion and marketing. It also plans to focus on the fitness segment.
Sameer Maheshwari, Founder and Managing director of Healthkart stated, “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,” he said.
Founded by Maheshwari and Prashant Tandon in 2011, the company last year separated its generic drug search business HealthkartPlus as 1mg.com and raised $6 million for the new venture from existing investors.
Healthkart focuses on fitness oriented products such as protein supplements and vitamins, has more than 200 brands and authorized vendors on its platform. The company also has private-label products in the nutrition and supplements business called MuscleBlaze and Incredio.