Healthkart, one of India’s first health e-tailer, raises $23 million

• Healthkart has raised $25 million in a Series G round, according to filings sourced by paper.vc.
• The startup has raised funding from Belgium-based Advent Management.
• Founders Prashant Tandon and Sameer Maheshwari had split to run Healthkart – for nutritious and wellness products – and 1mg as the online pharmacy.

Online health and wellness retail startup Healthkart has raised $25 million in a Series G round, according to filings sourced by paper.vc. The Sequoia-backed startup has raised funding from Belgium-based Advent Management.

Healthkart has been rapidly growing its business along with raising funds. The startup had raised $12 million from Sequoia India, Kae Capital and others in 2016. According to reports, the startup also raised funds from a follow up round in July 2018.

Launched in 2011 by Prashant Tandon and Sameer Maheshwari, the startup also expanded to offline businesses in 2013. In 2015, Healthkart separated its drugstore business to start a different vertical – 1mg.

While 1mg works as an e-retail platform for medicines, Healthkart offers nutrition products, protein supplements etc, online. Healthkart also runs its private label – Incredio – along with other popular brands on its platform.

While Tandon looks after the business of 1mg, Maheshwari runs the Healthkart business. 1mg raised $45 million in April 2019 at a reported valuation of $200 million.

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