HealthKart, the parent company of popular nutrition and fitness brands MuscleBlaze and HKVitals, has successfully raised $153 million in a secondary funding round. The round was 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 this transaction.
In addition to the funding, HealthKart announced its first-ever employee stock option plan (ESOP) buyback worth Rs 55 crore. This buyback program is designed to provide liquidity for both current and former employees who have been integral to the company’s growth and success.
Sameer Maheshwari, Founder and CEO of HealthKart, shared his excitement about the funding and buyback initiative: “We are thrilled to welcome ChrysCapital and Motilal Oswal to HealthKart and look forward to leveraging their expertise in the next phase of our growth. Our first ESOP buyback program is an exciting milestone that will create meaningful value for those who have contributed to HealthKart’s success.”
This funding round comes on the heels of HealthKart’s strong performance in the fiscal year 2023-24 (FY24), during which the company achieved full-year EBITDA profitability and surpassed Rs 1,000 crore in revenue.
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