The Tata 1MG-owned healthcare platform of India Healthkart secures an amount of 65 Million US dollars in a Series H funding round on Friday, 25th November 2022.
The company’s first funding round of the year was led by two investors, Temasek Holdings and A91 Partners after three years of its previous funding round, the Series G round held in the year 2019 in the month of May, where the healthcare platform secured 25 million US dollars from the Germany-based investment company, Sofina.
The Singapore based investment firm Temasek Holdings provided the capital of about 47 million US dollars whereas, the Indian venture Capital Fund A91 Partners underwrote the sum of 18M USD in the Series H Funding round.
In order to secure the funds amounting 65 million USD, the central committee of the healthcare company streamed an intent to deliver 3.085 lakh cumulative preference stocks and 10 equity stocks as per the Regulatory Filing.
About the Company
Indian Healthcare platform Healthkart was set up in the month of March of the year 2011 by the co-founders Sandeep Maheshwari and Prashant Tandon. The company was named under Bright Lifecare (BLPL) at the beginning.
Later, the company detached itself from Bright Lifecare to launch the country’s highest digital healthcare platform 1MG Technologies Pvt.Ltd. The 1MG Technologies is now known as Tata 1MG, when Tata purchased the 55 percent stocks belonging to 1MG in June last year.
The online portal for nutriments and other health equipment holds seven health based brands under its wing namely, MuscleBlaze, Gritzo, Nouriza, TruBasics, HKVitals, The Protein Zone and bGreen. The company provides its services with 100 offline outlet in 40 cities across the country.
The firm acquired MadeInHealth, an online fitness platform, in order to expand the fitness section of the e-health space in the year 2012.
The Gurugram-based online healthcare platform affirms that the revenue earned in the Fiscal Year 22 accounts to 700Cr whereas, the platform earned revenue of 310Cr in the last Fiscal Year.
Photo credit-The Economic Times
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