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Indian omnichannel nutrition startup HealthKart has raised $153 million in one of the country’s largest consumer startup investments this year, valuing the business at about $500 million, according to a source familiar with the matter.
The new investment was co-led by private equity firms ChrysCapital and Motilal Oswal, with Avendus Capital acting as financial advisor.
Gurugram-based HealthKart reported revenues of $118.5 million for the year ending March 2024, cementing its position as the largest consumer nutrition platform in India.
The 13-year-old startup, which spun off online pharmacy company 1MG, said it was also buying back $6.5 million worth of shares from employees. The startup was profitable before interest, taxes, depreciation and amortization in the fiscal year ending in March.
This is a developing story. More to follow.
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