Gurugram-based omnichannel health-tech startup HealthKart has raised $25 million from Belgium-based Sofina. These funds will help the former to expand its network, induce more nutrition brands and better its services.
Gurugram: Popular health-tech startup HealthKart has recently raised $25 million from family-controlled investment fund Sofina in a fresh round of financing. The firm has found existing investors in prominent names like Sequoia Capital India, Kae Capital, and Omidyar Network.
HealthKart is a Gurugram-based omnichannel healthcare platform spread to over 110 retail stores across 40 cities. The firm offers a range of nutrition supplements like proteins, vitamins, and herbal supplements through its online portal. Additionally, it also provides customer education modules for users in topics such as nutrition, wellness, and fitness, certified by trained experts.
The company claims to be clocking 60 percent year-on-year growth since it was started back in 2011. Currently, the revenue is claimed to have an online-offline split at 50:50. This has, reportedly, helped HeathKart maintain its relevance across all streams of the health-tech market.
HealthKart discusses further plans
With the fresh funds, HealthKart now aims to expand its offline store network. It also aims to induce more direct-to-consumer nutrition brands and thus strengthen its vertical integration.
The offline stores spread across 40 cities is the core customer education and acquisition tool for the company. Trained nutrition experts, available at the stores and online, help customers navigate and select the right products. The company plans to expand the store network, and also leverage data and AI technologies to provide superior assistance to customers.
– Sameer Maheshwari, CEO & Co-founder, Healthkart
The firm also plans to use these funds to further expand its store network. The team has elaborate plans to use data science and artificial intelligence (AI) to improve its customer-facing offerings.
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The company’s flagship brand – MuscleBlaze – has emerged as one of the leading sports nutrition products in the market. Moreover, it has a double-digit market share and strong brand recall. It has helped the company set its strong foothold in the digital channels and primarily sports-based arenas.
The company is now planning a similar approach in building strong brands in adjacent nutrition categories such as vitamins, health supplements, and children’s nutrition.