HealthKart Raises USD 153 Mn, Announces First INR 55 Cr ESOP Buyback Founded in 2011 by IIT and Harvard alumnus Sameer Maheshwari, HealthKart is a consumer nutrition platform, operating digital-first brands like MuscleBlaze, HK Vitals, and Gritzo across key nutrition segments.

Gurugram-based omnichannel nutrition platform HealthKart has secured USD 153 million in a funding round led by ChrysCapital and Motilal Oswal Alternates, with participation from Neo Group and existing investor A91 Partners. Avendus Capital acted as the exclusive financial advisor for the transaction.

In a landmark move, the company also announced its first-ever employee ESOP buyback worth INR 55 crore, marking its initial liquidity event. This initiative will benefit both current and former employees, recognizing their contributions to the company's growth journey.

Sameer Maheshwari, Founder and CEO of HealthKart, expressed his enthusiasm about the developments, stating, "We welcome ChrysCapital and Motilal Oswal to HealthKart and look forward to leveraging their expertise for our next phase of growth. Our first ESOP buyback program is a meaningful step in aligning personal success with the company's long-term vision, reflecting our commitment to valuing our people."

Founded in 2011 by IIT and Harvard alumnus Sameer Maheshwari, HealthKart has established itself as India's leading consumer nutrition platform. It operates several digital-first brands, including MuscleBlaze, HK Vitals, and Gritzo, covering segments such as proteins, dietary supplements, and kids' nutrition.

The company has a robust omnichannel presence, with over 200 retail stores across 90+ cities.

HealthKart has a history of strategic moves, including spinning off its generic drug search business, HealthKartPlus, in 2015, which later rebranded as 1mg and now operates under Tata 1mg.

In December 2022, the company raised USD 135 million in a round led by Temasek. To date, HealthKart has raised approximately USD 360 million.

FY24 was a milestone year for HealthKart, as it crossed the INR 1,000 crore revenue mark and achieved full-year EBITDA profitability. The company is expanding its power brands and venturing into international markets to drive further growth.

Arpit Vinayak, Vice President of ChrysCapital, highlighted, "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."

Rohit Mantri, Co-Head at Motilal Oswal Alternates, added, "HealthKart's commitment to delivering affordable, high-quality nutrition aligns perfectly with our mission to promote healthier lifestyles."

With this investment, HealthKart is well-positioned to capitalise on the growing demand for fitness and nutrition products while strengthening its leadership in the Indian market.