HealthKart Secures $153 Mn Investment Round Led By ChrysCapital And Motilal Oswal Alternates

HealthKart, an omnichannel nutrition platform, raised an investment round of USD 153 million led by ChrysCapital & Motilal Oswal Alternates.  Neo Group and HealthKart’s existing investor, A91 Partners also participated in the round. Avendus Capital acted as the exclusive financial advisor for the transaction.

FY24 was a milestone year claimed the company. In the fiscal year, the company claimed not only crossed 1,000 crore in revenue but also achieved full-year earnings before interest tax depreciation and amortisation (EBITDA) profitability. HealthKart continues to strengthen its power brands, along with expanding its presence in international markets.

Sameer Maheshwari, Founder of HealthKart, said, “We welcome ChrysCapital and Motilal Oswal to HealthKart and hope to leverage their expertise during the next phase of growth. Very excited about our first ESOP buyback program which will create meaningful value for people who have played a critical role in building HealthKart. We firmly believe that people are our greatest asset and we aim to align their success with the company’s long-term vision.”

HealthKart also announced an employee ESOP buyback worth Rs 55 crore, representing the company’s first liquidity event. The buyback will benefit both current as well as former employees who have been part of the company’s growth journey.

Arpit Vinayak, Vice-President, ChrysCapital said  “ChrysCapital is excited to partner with HealthKart as it embarks on its growth journey. The Indian sports nutrition market, currently underpenetrated, is expected to expand due to a rise in fitness awareness and the increasing importance of nutrition and protein. MuscleBlaze stands out as a leading brand, supported by a robust mix of proprietary channels, while HK Vitals offers high-quality nutraceuticals. ChrysCapital believes that HealthKart's exceptional management team,  strong brand portfolio, omnichannel distribution, and superior marketing capabilities provide the  ideal foundation for significant growth and value creation.”