The omnichannel healthcare technology platform HealthKart has completed a Series H funding round led by Temasek and included participation from A91 Partners. The amount raised is equivalent to approximately $66 million.
The year 2022 is the first investment round for the company that is situated in Gurugram.
According to regulatory filings, the board of directors of Healthkart approved a special resolution that will allow the company to raise Rs 536.52 crore (approximately $65 million) by issuing "10 equity shares" and "3,08,547 CPS at an issue price of Rs 17,388 per share.
The Series H funding was led by Temasek, who participated in it through V-Science Investment and contributed Rs 389.46 crore, equivalent to $47.7 million. A91 Partners contributed the remaining amount of Rs 147.06 crore, which is equivalent to $18 million.
Fintrackr's calculations indicate that the company is worth approximately Rs 3,150 crore, which is equivalent to $390 million (post-money). In May 2019, HealthKart participated in a Series G round of funding and raised a total of $25 million. The company may obtain additional funding in this round.
Healthkart owns and manufactures eight different nutritional brands, some of which are well-known dietary supplement companies such as MuscleBlaze, The Protein Zone, TrueBasics, HKVitals, bGreen, and Nouriza.
In addition, the board of directors of HealthKart has approved a special resolution to enhance the size of the existing employee stock ownership plan under ESOP Scheme 2021 by 35,234 options, bringing the total number of options to 91,514.
The new options that have been added to HealthKart's stock options are estimated to have a value of approximately Rs 61.3 crore, while the entire value of the ESOP pool at the company has climbed to Rs 159 crore, which is equivalent to nearly $20 million. These figures are from Fintrackr.
The operating revenue of HealthKart remained relatively consistent at Rs 310 crore in FY21 as opposed to Rs 335 crore in FY20, despite the fact that the company claims to have raked in Rs 700 crore in revenue for FY22.
According to an analysis carried out by Fintrackr, the corporation was able to reduce its losses by 79.2% in FY21, bringing the total down from INR 198 crore in the previous fiscal year to Rs 41.2 crore.
In 2015, HealthKart split off its generic medication search company, which was called HealthkartPlus, and renamed it 1mg. It is now run by Tata 1mg Technologies Private Limited. Sameer Maheshwari served as the CEO of HealthKart during this time.
Sameer Maheshwari is the founder of HealthKart, an online health and fitness store for both men and women that provides customers with fitness products, services, and a community to assist them in achieving their health and fitness objectives.
Authentic wellness items, sports clothing, protein supplements, fitness equipment, and dietary supplements for weight loss are some of the products that the company distributes. In addition, HealthKart offers gym memberships, personal trainers, and a variety of other services.