HealthKart raises USD 25 million from Sofina to expand offline network
HealthKart will use the funds to expand its offline store network, develop additional direct-to-consumer nutrition brands and strengthen its vertical integration.
New Delhi: Omni-channel nutrition platform HealthKart Thursday said it has raised USD 25 million (over Rs 174 crore) from investment firm Sofina in a fresh round of funding. The company will use the funds to expand its offline store network, develop additional direct-to-consumer nutrition brands and strengthen its vertical integration, HealthKart said in a statement.
HealthKart founder and Chief Executive Officer Sameer Maheshwari said, "We are excited to partner with Sofina, who have deep experience in investing in consumer brands, for the next phase of our growth."
With a strong focus on product development, manufacturing and distribution, the company's mission is to make health and nutrition mainstream and bring best-in-class nutrition solutions to customers, he added.
In a similar vein, Sofina Asia Investment Manager Tanya Sen said, "We look forward to partnering with HealthKart to further expand its brand portfolio and distribution network in the fast-growing nutrition and wellness space in India."
Founded in 2011 by Sameer Maheshwari and Prashant Tandon, HealthKart offers a comprehensive range of nutrition supplements such as proteins, vitamins and herbal supplements, through a combination of online portal and over 110 offline stores spread across 40 cities.