4 April, 2020

Sparkling investment of $25M led via Sofina

It turned into the year 2010. Everything became transferring online, however medicinal drug and healthcare within the Indian context saved away. This is in which Harvard and Stanford graduates Prashant Tandon and Sameer Maheshwari saw an opening. And to address it, in 2011, they based HealthKart as an e-commerce participant for vitamins, drug treatments and different medical wishes in Gurugram.

In 2015, even though, the employer hived off its medicinal drug and scientific ecommerce operations right into a separate entity – 1mg – which turned into co-based through Prashant together with Gaurav Agarwal.

Today, Heckart is an omnichannel vitamins platform that gives a number of nutrients supplements like proteins, vitamins, and herbal dietary supplements via an internet portal, and over one hundred ten offline shops spread throughout forty cities. The company claims to be clocking 60 percent year-on-year increase since it turned into started. The team announced it had raised $25 million in investment led by Sofia. Existing investors encompass Sequoia Capital India, Kae Capital, and Omidyar Network.

Building the dietary business

HealthKart Co-founder and CEO Sameer told YourStory,

“In 2015, we decided to cognizance on HealthKart as a dietary commercial enterprise. We noticed a massive possibility in the area. Unlike the US, which has specialty vitamins stores, there have been none in India. People had commenced transferring towards preventive care, and there has been hardly ever any offline presence. So, we decided to enter the offline nutrition market and offer the identical revel in we do online – deliver the patron guide, counseling, and steering.” Soon the group included the channel.

Currently, HealthKart claims the online-offline cut up at 50:50. It also offers assistance to its customers in product selection and food regimen planning through trained nutritionists.

With this $25 million, HealthKart pursuits to extend its offline save community and also extra direct-to-client nutrition manufacturers and enhance its vertical integration.

On the funding, Tanya Sen, Investment Manager at Sofia Asia, stated,

“We look ahead to partnering with HealthKart to similarly increase its emblem portfolio and distribution network. We are impressed via the pace at which the control team has scaled the MuscleBlaze brand and are proud to back their dedication to building a range of high best, authenticity-guaranteed products for the Indian client. This investment is a part of our method to be long term companions to talented entrepreneurs and traders constructing sustainable corporations in growing markets.”

Product improvement

HealthKart claims its flagship logo – MuscleBlaze – is one of the main sports nutrients merchandise within the market, and has a double-digit marketplace percentage and sturdy emblem consider.

The company is now making plans a similar technique in constructing sturdy brands in adjoining nutrients categories inclusive of nutrients, health dietary supplements, and kids’ nutrition. Sameer explains that the crew saw every other white space within the consumer brand segment, and that is what led them to construct MuscleBlaze.

“We realized in our conversations with clients that there has been a need for a sports activities nutrients product. That is how we developed MuscleBlaze. We built a web rapport with folks that are inquisitive about the product, asked them what they were searching out and constructed it,” he says.

The agency, which has invested extensively in R&D, made numerous extraordinary formulae, as consistent with Sameer, the sports activities nutrition marketplace turned into largely ruled with the aid of gamers from the US. The HealthKart team, therefore, determined to co-increase the goods with clients based totally on their requirements. Once MuscleBlaze scaled online, they added the product offline as well. The crew has FSSAI certifications and extra protein certifications via NABL licensed labs.

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