Temasek backs India’s HealthKart in $135 million funding • TechCrunch

Indian client vitamin platform HealthKart has raised $135 million in a brand new financing spherical because it appears to broaden in worldwide markets and shore up money to purchase companies, it mentioned Monday.

Temasek led the Gurgaon-headquartered agency’s Sequence H funding, valuing the 11-year-old startup at about $350 million. The startup, which additionally counts Sequoia India, Sofina and IIFL amongst its backers, has raised about $225 million so far, based on market analysis agency Tracxn.

HealthKart, which sells protein dietary supplements and well being equipment, mentioned it’s at the moment on observe to generate over $122 million in annual income.

“Driving health and preventive well being by addressing the dietary gaps is a systemic development which is taking off in an enormous approach in India. With HealthKart’s R&D capabilities and omni-channel distribution infrastructure, we’re excited to cleared the path,” mentioned Sameer Maheshwari, founder and chief govt of HealthKart, in an announcement.

The startup mentioned it would deploy the contemporary funds to broaden its offline presence and in addition scale its operations in worldwide markets. The omni-channel vitamin retailer at the moment operates over 140 shops throughout 50 Indian cities.

In 2015, 1MG spun off from HealthKart and have become a separate firm. Tata Digital acquired majority stakes in 1MG at a valuation of over $400 million final 12 months.