Healthkart raises $65M funding from Temasek, A91 Partners
Tata 1mg-ownedhas raised close to $65 million in funding from investors and . This is the company's first round of funding this year.
Healthkart's board passed a special resolution to issue 10 equity shares and 3,08,547 convertible preference shares at an issue price of Rs 17,388 per share to raise Rs 536.52 crore (~$65 million), according to regulatory filings.
Temasek, via its subsidiary V-Science Investment, invested close to $47 million, while Mumbai-based VC fund A91 Partners invested $18 million.
Entrackr was the first to report on the development.
The Gurugram-based nutraceuticals brand houses eight popular supplement brands including MuscleBlaze, TrueBasics, bGreenThe Protein Zone, HKVitals, Nouriza, and Gritzo. It has over 100 offline stores across 40 cities in India.
The company was founded in 2011 under the name Bright Lifecare Pvt Ltd (BLPL) by former UBS Investment Bank executive Sameer Maheshwari and formerexecutive Prashant Tandon. In 2015, Healthkart was separated from BLPL to form Technologies Pvt Ltd. bought a 55% stake in 1mg in June 2021.
Edited by Megha Reddy