Healthcare is going to fundamentally transform in the years to come. No doubt, technological advancements will be helping such a change. The newfound health awareness is also a result of the emergence of the internet and the spread of both mental and physical diseases.
All of these are leading people to approach healthcare through a preventive and fitness lens. These trends are permanent and will only exponentially manifest themselves in the years to come. Along with the rising culture to training the human body physically in order to help it stay active and promote optimal functioning, people are now also inclined to opt for preventive care methods, which include the intake of beneficial nutrients and effective supplements.
HealthKart is a healthcare startup that believes in supporting the health and well-being of people. The Gurgaon-based wellness startup brings a wide array of health products online in India, which helps users stay fit and active and enjoy their lives in the best possible way. Besides, HealthKart also offers a variety of fitness products and services to help consumers achieve their fitness goals.
Founded in March 2011 by two IIT graduates with significant experience in healthcare and technology domains, both in India and the US, HealthKart is hailed as India’s No. 1 authentic online supplement store.
Here’s learning all about the HealthKart company, its Founders and Team, Business and Revenue Model, Mission, Growth, Revenue, Competitors, Acquisitions, Challenges, Future Plans, and more.
HealthKart – Company Highlights
| STARTUP NAME | HEALTHKART |
|---|---|
| Headquarters | Gurgaon, Haryana, India |
| Sector | Healthcare, Fitness |
| Founders | Prashant Tandon and Sameer Maheshwari |
| Founded | 2011 |
| Valuation | $500 Million (as of November 2024) |
| Website | healthkart.com |
HealthKart – About
HealthKart – Industry
HealthKart – Founders and Team
HealthKart – Startup Story
HealthKart – Mission
HealthKart – Name and Logo
HealthKart – Business Model
HealthKart – Revenue Model
HealthKart – Challenges Faced
HealthKart – Acquisitions
HealthKart – Partnerships
HealthKart – Funding and Investors
HealthKart – Growth
HealthKart – Competitors
HealthKart – Future Plans
HealthKart – About
HealthKart is an online health and fitness store for men and women, which offers health products online and health services to help consumers achieve their fitness goals. The company sells authentic health supplements, fitness equipment, weight loss products, protein supplements, sports gear, and wellness products.
HealthKart offers a comprehensive range of high-quality supplements such as proteins, vitamins, minerals, etc., sourced from across the world. These supplements are used for athletic performance, fitness, and wellness. The company also offers assistance to its customers in product selection and diet planning through trained nutritionists.
HealthKart – Industry
According to Allied Industry Research, the online fitness industry is growing quickly and is expected to reach $59.231 million by 2027 at a projected CAGR of 33.1%. The convenience of digital platforms and rising health consciousness are fueling this expansion, which is changing the fitness business and creating enormous potential for innovation and entrepreneurship.
Sarika Anand
HealthKart – Founders and Team
HealthKart is founded by Prashant Tandon and Sameer Maheshwari (Founder and CEO).
Prashant Tandon
Prashant is a founding member of HealthKart along with Sameer Maheshwari. He is a Founder/Entrepreneur at Tata 1Mg since he left HealthKart in March 2015. Prashant Tandon is an IIT Delhi alumnus, who has done his BTech in Chemical Engineering from the IIT and afterward completed an MBA, in Business, from Stanford University. He was previously a Summer Associate at McKinsey & Company, a Vice President at MapmyIndia, and then a Sr. Associate at McKinsey & Company, before starting an entrepreneurial career by founding HealthKart.
Sameer Maheshwari
Sameer Maheshwari serves as the Founder and CEO of HealthKart. He also has a BTech degree in Civil Engineering from the IIT Delhi, along with an MBA from the Harvard Business School. Sameer was previously the Senior Sales Consutant at MicroStrategy, then a Summer Associate at Jefferies & Company, an Associate Director at the UBS Investment Bank, and a Manager Business Consultant at LucidEra before he started up with HealthKart.
HealthKart – Startup Story
Founded in March 2011, HealthKart India was formed on the grounds of giving simple, effective solutions to health enthusiasts. Today, HealthKart offers India’s largest range of genuine healthcare products online across various categories and all major brands. HealthKart.com is an online portal where people can find HealthKart products, and compare and buy health products online.
Prashant always wanted to do something in the Healthcare industry. As he noticed that the health sector was known to be one of the most unorganized sectors and availing of good quality health products was an extreme painpoint in India, he got in touch with Sameer Maheshwari and shared the idea with him. Then they got together and started Bright Lifecare Pvt. Ltd., HealthKart’s parent company.
A degree from Stanford or Harvard Business School would automatically win anybody tickets to a lucrative job. And it was no different for Sameer Maheshwari and Prashant Tandon. While the former is a Harvard graduate, the latter got his degree from Stanford. In fact, Maheshwari and Tandon quit their jobs to start, Healthkart.com, a one-stop online shop for healthcare needs. They worked with doctors and health institutions before launching a consumer-facing unit.
“Before starting the portal, we tried our hand in different sub-sectors within healthcare,” recollects Tandon.
From venturing into public healthcare to offering practice management software for independent physicians and small clinics, the duo tried two to three different business models.
HealthKart – Mission
The company’s mission on it’s website states as “to deliver a premium-quality and affordable product range that covers the entire spectrum of all body types.”
HealthKart – Name and Logo
HealthKart parent company is “Bright Lifecare Pvt. Ltd.”
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HealthKart – Business Model
The core of HealthKart’s business model is its extensive e-commerce platform, which serves customers’ fitness and health demands. The creators first experimented with different healthcare models before turning to direct retail to customers. HealthKart is an online store that provides a large selection of fitness and health products. It functions as a one-stop shop.
HealthKart sells a wide variety of products in keeping with a typical retail model, making it simple for clients to browse and make purchases online. To ensure effective delivery, third-party vendors, such as leading Indian courier services, handle logistics.
From venturing into public healthcare to offering practice management software for independent physicians and small clinics, the founders tried two to three different business models.
But the two also realized that they wanted to be in the consumer space, so after gaining enough experience and understanding of how the healthcare industry works, they started HealthKart India for direct retail of healthcare products to consumers.
HealthKart – Revenue Model
HealthKart’s revenue model mainly depends on two sources:
Sales of nutritional goods produced in-house: HealthKart gets a sizable amount of its income from the sale of its own brand of nutritional goods. These goods, which are produced by HealthKart, address a range of customer health and wellness requirements.
Marketplace fees: HealthKart runs a marketplace in which it helps other sellers sell their products. These sellers are required to pay marketplace fees in order to list and sell their goods on the HealthKart platform. This revenue source raises HealthKart’s total revenue.
HealthKart – Challenges Faced
More than ten years ago, HealthKart, led by CEO and founder Sameer Maheshwari, set out to offer reasonably priced preventive healthcare solutions to Indians. Nonetheless, there were several difficulties along the way. Making sure a product is legitimate became crucial in an industry where fake goods were common.
Other challenges were overcoming investor distrust and putting together a capable team. Furthermore, creative approaches were needed to navigate the disjointed and often unstructured healthcare sector. By utilizing India’s rapidly developing e-commerce sector, HealthKart aimed to close the gap between customers and genuine medical supplies. A major issue that surfaced was education, as customers were ignorant of appropriate items.
In spite of these challenges, HealthKart persisted, putting in place stringent quality controls, building a strong customer service center, and utilizing e-commerce to offer real healthcare solutions to the general public.
Muskaan Kapoor
HealthKart – Acquisitions
In 2012, HealthKart company acquired the online fitness and bodybuilding community and supplement store to expand into Fitness, Weight gain, Weight loss, etc. named MadeInHealth, which is one prominent acquisition of HealthKart. The deal value of this acquisition is undisclosed.
HealthKart – Partnerships
KlugKlug
On October 8, 2024, KlugKlug, an influencer marketing SaaS platform, partnered with Healthkart to enhance its influencer outreach. The collaboration aims to optimize strategies, connect with authentic influencers, and boost brand visibility.
Unicommerce
HealthKart partnered with Unicommerce to enhance its e-commerce supply chain on September 4, 2024. By adopting Unicommerce’s order and warehouse management solutions, HealthKart automates order processing and fulfillment across its website and marketplaces for brands like MuscleBlaze, Gritzo, and HK Vitals.
HealthKart – Funding and Investors
HealthKart has raised $349 million in 6 rounds of funding.
Here are the funding details:
| Date | Round | Amount | Lead Investors |
|---|---|---|---|
| Nov 18, 2024 | Secondary Market | $153 million | Chrys Capital, Motilal Oswal Alternates |
| Nov 24, 2022 | Series H | $135 million | Temasek Holdings |
| May 9, 2019 | Series G | $25 million | Sofina |
| Oct 24, 2018 | Venture Round | $10 million | Sequoia Capital India |
| Aug 1, 2016 | Series E | $12 million | Sequoia Capital India |
| Jun 7, 2013 | Series B | $14 million | Intel Capital |
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HealthKart – Growth
HealthKart: growth highlights are:
- It is supported by 100+ stores as of March 2024
- It has expanded to 25,000 products as of March 2024
- It is available in 40+ cities as of March 2024
- It has 2.5 million+ happy customers as of March 2024
- It has served more than 10 million customers as of March 2024
Financials
| HealthKart Financials | FY22 | FY23 | FY24 |
|---|---|---|---|
| Operating Revenue | INR 491 crore | INR 832.4 crore | INR 1,021 crore |
| Total Expenses | INR 576 crore | INR 927.5 crore | INR 1,032.2 crore |
| Profit/Loss | Loss of INR 69 crore | Loss of INR 75.5 crore | Profit of INR 36.6 crore |
EBITDA
| HealthKart Financials | FY22 | FY23 | FY24 |
|---|---|---|---|
| Expense/Rupee of ops revenue | INR 1.17 | INR 1.11 | INR 1.01 |
| ROCE | -138% | -9.49% | 5.61% |
| EBITDA Margin | -61% | -5.78% | 6.51% |
HealthKart – Competitors
HealthKart’s top competitors include:
- 1mg
- Gaia Herbs
- Best Priced Products
- Hello Cake
- ROAM Fitness
PV Vyshnavi
HealthKart – Future Plans
The $100–150 million secondary transaction between HealthKart, the health supplement startup, and ChrysCapital, a private equity fund, is under discussion as per news report of April 4, 2024. Through this acquisition, early investors may receive a payout, and HealthKart’s valuation may increase from $370 million to over $500 million.
With this capital infusion, HealthKart hopes to boost technology capabilities, broaden its product offerings, reach a wider market, and quicken its growth trajectory. As HealthKart positions itself for continued success and industry leadership in the health and wellness sector, this anticipated fundraising round marks the beginning of an exciting new chapter in the company’s history.
FAQs
When was HealthKart founded?
Prashant Tandon and Sameer Maheshwari founded HealthKart in 2011.
Who founded HealthKart?
HealthKart was founded by Prashant Tandon and Sameer Maheshwari in 2011.
Is MuscleBlaze owned by HealthKart?
Yes, MuscleBlaze is owned by HealthKart.
Who is the Muscleblaze founder?
Sameer Maheshwari, the founder of HealthKart is the Muscleblaze founder.
How does HealthKart make money?
Sales of HealthKart’s own nutritional products and marketplace fees from other merchants who list their goods on the platform are the company’s main sources of income. The total revenue and business operations of HealthKart are substantially influenced by these two sources.
How are HealthKart product authentication checks?
The HealthKart business relies on the authenticity and quality of its products, which is clearly its USP. The HealthKart product authentication check is fuelled by tight quality controls during the sourcing and distribution phase of the products. With stringent product authentication checks, HealthKart promises 100% authentic products.