Indian omni-channel nutrition startup HealthKart has raised $153 million in one of the country’s largest consumer startup investments this year, valuing the business at about $500 million, according to a source familiar with the matter.
The new investment was co-led by private equity firms ChrysCapital and Motilal Oswal, with Avendus Capital serving as financial advisor. Some existing investors sold their shares in the new investment, according to people familiar with the matter.
Gurugram-based HealthKart reported revenue of $118.5 million for the year ending March 2024, cementing its position as India’s largest consumer nutrition platform.
The 13-year-old startup, which spun out of online pharmacy startup 1MG, said it is also buying back shares worth $6.5 milion from employees. The startup was EBITDA profitable in the financial year ending March.
This is a developing story. More to follow.
