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Temasek invests $135 million in India’s HealthKart

HealthKart, an Indian consumer nutrition platform, said on Monday that it had secured $135 million in a fresh funding round to fund its expansion into overseas markets and potential acquisitions.

The Gurgaon-based business received roughly $350 million in valuation after receiving Series H investment sponsored by Temasek. According to market research company Tracxn, the business has received over $225 million to far from investors including Sequoia India, Sofina, and IIFL.

HealthKart, which offers nutritional supplements and fitness gear, said it would earn more than $122 million in sales in 2018.

A systemic movement toward fitness and preventative health through closing nutritional gaps is gaining significant traction in India. ‘We are pleased to lead the way with HealthKart’s research and development expertise and omni-channel distribution infrastructure,’ said Sameer Maheshwari, HealthKart’s founder and CEO.

The business plans to use the new capital to grow its operations in both domestic and foreign markets. The nutrition omnichannel shop has over 140 locations in 50 different cities around India.

One Medical Group (“1MG”) was once part of HealthKart but split off to become its own firm in 2015. Last year, at a value of over $400 million, Tata Digital purchased a controlling share in 1MG.