Healthkart Revenue, Valuation, Funding & Investors

Healthkart is valued at $500M as of November 2024, a 4.2x multiple on its last reported $119M revenue.

Last Healthkart valuation

$500M

Secondary · Nov 2024

Last Healthkart funding round

$135M

Series H · Nov 2022

Healthkart revenue

$119M

Secondary · Nov 2024

Key investors in Healthkart

  • Peak XV Partners
  • Kae Capital
  • A91 Partners
  • Sequoia Capital
  • Intel Capital
  • Temasek

Healthkart Overview

About Healthkart

HealthKart retails fitness supplements, nutrition products, vegan wellness items, and gear tailored for kids and women through its e-commerce site and mobile app. The platform stocks protein powders, vitamins, gym equipment, and sports nutrition from brands like MuscleBlaze and GNC. HealthKart enables direct purchases with personalized recommendations based on fitness goals. Gurgaon-headquartered since 2011, it dominates India's online health retail market with nationwide delivery.


Founded

2011

HQ

IndiaGurgaon

Status

Privately held

Customer focus

B2C

Revenue model

Product sales

Revenue

$119M (Nov 2024)

Valuation

$500M (Nov 2024)

Healthkart Valuation

Healthkart is currently valued at $500M, based on its secondary sale in November 2024.

The $153M round was led by ChrysCapital and Motilal Oswal Alternates, with participation from A91 Partners and Neo Asset Management.

Healthkart's valuation has grown 1.4x from $350M at its Series H in November 2022 to $500M in November 2024, across 2 priced rounds.

Healthkart valuation by funding round

Revenue multiple
Healthkart valuation by funding round
DateStageValuationRevenue Multiple
Nov 2024Secondary$500M4.2x
Nov 2022Series H$350M3.3x

Healthkart Revenue

Healthkart's latest recorded revenue is $119M, as of its secondary sale in November 2024. At a $500M valuation, that implies a 4.2x revenue multiple.

Revenue grew from $107M in November 2022 to $119M in November 2024, while the revenue multiple moved from 3.3x to 4.2x.

Healthkart revenue by funding round

Healthkart revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Nov 2024$119M$500M4.2xSecondary
Nov 2022$107M$350M3.3xSeries H

* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.

Healthkart Funding History

Healthkart has raised a total of $196M across 5 funding rounds, plus 1 secondary share sale.

Healthkart's first fundraising round was a $14M Series B in June 2013. The most recent completed round was a $135M Series H in November 2022.

Healthkart funding rounds

Healthkart funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Nov 2024SecondaryChrysCapital (lead); Motilal Oswal Alternates (lead); A91 Partners; Neo Asset Management$153M$500MHealthKart is India's largest consumer nutrition platform, selling protein supplements, health accessories, and wellness products through brands like MuscleBlaze and HK Vitals. The Gurugram-based company, which spun out of online pharmacy 1mg, operates an omnichannel model with proprietary channels and multi-channel distribution. HealthKart raised $153 million in an all-secondary funding round on November 18, 2024, co-led by ChrysCapital and Motilal Oswal Alternates, with participation from A91 Partners and Neo Group. Avendus Capital served as the exclusive financial advisor. The transaction valued the company at $500 million, up from a previous $350 million valuation. Older investors including Peak XV fully exited, selling shares originally bought for less than $30 million for about $120 million. HealthKart also announced a $6.5 million (Rs 55 crore) ESOP buyback for current and former employees. The company achieved over Rs 1,000 crore ($118.5 million) in revenue for the financial year ended March 2024, with operating revenue at Rs 1,021 crore, up 23% from Rs 832 crore in FY23. It swung to profitability, posting a net profit of Rs 37-38 crore after a Rs 165 crore loss in FY23, and reached full-year EBITDA profitability. Prior backers include Temasek, Sofina, and IIFL. The investment targets growth in India's underpenetrated sports nutrition market, driven by rising fitness awareness and demand for nutrition and protein products.
Nov 2022Series HTemasek (lead); A91 Partners; Kae Capital$135M$350MHealthKart is an omnichannel nutrition platform selling protein supplements, health accessories, and nutritional products through its direct-to-consumer platform, over 140 offline stores across 50 Indian cities, and e-commerce marketplaces. Founded in 2011 by Sameer Maheshwari and Prashant Tandon, it serves over a million monthly consumers and focuses on addressing nutritional gaps to promote fitness and preventive health with strong R&D and distribution infrastructure. In November 2022, HealthKart raised $135 million in its Series H funding round led by Temasek Holdings, with participation from A91 Partners and Kae Capital, valuing the company at approximately $350 million. Prior backers include Sequoia India, Sofina, and IIFL, bringing total funding to about $200-225 million. The capital is earmarked for expanding direct-to-consumer brands, ramping up offline presence, pursuing inorganic growth through acquisitions, and scaling international operations. At the time of the round, HealthKart reported an annual revenue run rate of Rs 1,000 crore in FY23 and was on track for over $122 million in annual revenue, reflecting threefold growth over the prior three years. The company aimed for EBITDA profitability within 12-18 months and had previously raised $25 million in Series G from Sofina. HealthKart originated from a 2015 spin-off where 1MG became independent, later acquired by Tata Digital at over $400 million valuation. A later 2024 secondary round valued it at $500 million, with recent FY25 operating revenue reaching INR 1,312.6 crore and net profit of INR 120 crore.
May 2019Series GSofina (lead); Omidyar Network India; Kae Capital; Peak XV Partners$25M-HealthKart is an omnichannel nutrition platform founded in 2011 by Sameer Maheshwari and Prashant Tandon that offers nutrition supplements including proteins, vitamins, and herbal supplements through both an online portal and physical retail stores. The company operates over 110 offline stores across 40 cities and claims to have achieved a 50:50 online-offline revenue split, with assistance provided to customers through trained nutritionists. In May 2019, HealthKart raised $25 million in Series G funding led by Belgian investment firm Sofina, with existing investors including Peak XV (then Sequoia Capital India), Kae Capital, and Omidyar Network. The company intended to use the capital to expand its offline store network, develop additional direct-to-consumer nutrition brands under labels like MuscleBlaze, and strengthen vertical integration in manufacturing and distribution. At the time of the May 2019 funding, HealthKart reported 60 percent year-on-year growth. The post-money valuation immediately following this $25 million round was not publicly disclosed by the company; HealthKart's next publicly disclosed valuation occurred in December 2022 when it raised $135 million at approximately $370 million post-money valuation.
Oct 2018Series APeak XV Partners (lead); Sharrp Ventures; IIFL Finance$10M--
Aug 2016Series EPeak XV Partners (lead); Kae Capital$12M-Healthkart raised Rs 80 crore ($12 million) in its Series E funding round in August 2016 from existing investors, matching the investors Kae Capital and Peak XV Partners (formerly Sequoia India). The company operates as an online healthcare and fitness store.
Jun 2013Series BIntel Capital (lead); Sequoia Capital$14M-Healthkart is an online health and pharmaceutical e-commerce platform founded in 2011 by IIT Delhi alumni Prashant Tandon and Sameer Maheshwari. The company initially operated as a drug search engine called HealthKartPlus before pivoting to a marketplace model to comply with Indian FDI regulations on e-commerce, and later expanded into nutrition and wellness products. In June 2013, Healthkart closed a Series B funding round of $14 million from Intel Capital and existing investor Sequoia Capital, with Intel Capital contributing $8 million and Sequoia Capital contributing $6 million. Co-founder Prashant Tandon stated that the funds would be used to enhance technology and distribution, expand the product range, and bring international drugs to India. This followed earlier funding: a $1 million seed round in April 2011 from Kae Capital and Sequoia Capital, and a Series A round of Rs 27 crore from Sequoia Capital and Omidyar Network in January 2012. At the time of the Series B announcement, the HealthKartPlus platform was available only in the Delhi-NCR region and had recorded approximately 50,000 mobile app downloads with double-digit daily orders. The company maintained a database of 100,000 drugs in its marketplace. Management planned to expand to other major metros including Mumbai, Hyderabad, Chennai, Pune, and Chandigarh. By the end of 2013, the company had spun off its generic drug business into a separate entity called 1MG Technologies Pvt. Ltd., which raised $6 million in a subsequent round from existing investors. The parent company Healthkart continued to focus on nutrition and fitness products, with the parent company announcing plans to raise an additional $20 million within six months following the corporate restructuring.

Who has invested in Healthkart?

13 investors have backed Healthkart across its funding rounds, including Peak XV Partners, Kae Capital, A91 Partners, Sequoia Capital, Intel Capital and Temasek.

Lead investors include ChrysCapital, Motilal Oswal Alternates, Temasek, Sofina, Peak XV Partners and 1 other investor.


Healthkart Investors

Investors in Healthkart by funding rounds participated
InvestorHQRoundsRoleFirst check
Kae CapitalIndiaMumbai3ParticipantAug 2016
Peak XV PartnersIndiaBangalore3LeadAug 2016
A91 PartnersIndiaMumbai2ParticipantNov 2022
TemasekSingaporeSingapore1LeadNov 2022
Omidyar Network IndiaIndiaMumbai1ParticipantMay 2019
Sharrp VenturesIndiaMumbai1ParticipantOct 2018
Neo Asset ManagementIndiaMumbai1ParticipantNov 2024
Sequoia CapitalUnited StatesSan Francisco, CA1ParticipantJun 2013
IIFL FinanceIndiaMumbai1ParticipantOct 2018
Motilal Oswal AlternatesIndiaMumbai1LeadNov 2024
SofinaBelgiumBrussels1LeadMay 2019

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Healthkart Competitors

Healthkart competitors include listed companies like Betterware de Mexico and Lily & Beauty, and private ones like ipsy, MyGlamm, MakeO and Bloom & Wild.

Public and private companies comparable to Healthkart
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Betterware de MexicoMexicoMexicoPublicly listed$829M$152M$595M1.1x
ipsyUnited StatesSan Francisco, CAPrivate$150M-$800M5.3x
MyGlammIndiaMumbaiPrivate$80M-$300M3.8x
MakeOIndiaIndiaPrivate--$265M-
Bloom & WildUnited KingdomUnited KingdomPrivate--$500M-
Lily & BeautyChinaChinaPublicly listed$252M($12M)$505M-

Healthkart Public Comps

Healthkart is still privately-owned, but its public comps include The Beauty Tech Group, Lily & Beauty, Dingdong (Cayman), Debenhams Group, Evolus, Bukalapak.com, HelloFresh, Haypp Group, PZ Cussons and Dmall.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
The Beauty Tech Group$189M$37M2.4x2.1x12.1x7.7x
Lily & Beauty$252M($12M)1.3x-(27.8x)-
Dingdong (Cayman)$3.6B$34M0.1x0.1x7.3x-
Debenhams Group$1.2B($45M)0.6x0.6x(16.5x)10.2x
Evolus$297M($24M)2.2x2.0x(26.5x)(94.3x)
Bukalapak.com$367M$139M----
HelloFresh$7.8B$246M0.0x0.0x1.5x0.8x
Haypp Group$393M$19M1.2x1.0x25.0x21.7x

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Common questions about Healthkart

When was Healthkart founded?Healthkart was founded in 2011.
Where is Healthkart headquartered?Healthkart is headquartered in Gurgaon, India.
Is Healthkart publicly listed?No, Healthkart is a private, VC-backed company.
What is Healthkart's valuation?Healthkart was last valued at $500M in its secondary sale in November 2024.
How much funding has Healthkart raised?Healthkart has raised $196M across 5 funding rounds.
What was Healthkart's last funding round?Healthkart's last funding round was a $135M Series H in November 2022, led by Temasek.
Who are Healthkart's investors?Healthkart's investors include Kae Capital, Peak XV Partners, A91 Partners, Temasek, Omidyar Network India, Sharrp Ventures, Neo Asset Management, Sequoia Capital, IIFL Finance, Motilal Oswal Alternates and 3 others.
What is Healthkart's revenue?Healthkart's latest recorded revenue is $119M (November 2024).
What is Healthkart's revenue multiple?Healthkart's latest valuation implies a 4.2x revenue multiple ($500M valuation on $119M of revenue).
Which companies are comparable to Healthkart?Companies comparable to Healthkart include Betterware de Mexico, ipsy, MyGlamm, MakeO, Bloom & Wild and Lily & Beauty.

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