HealthKart is a startup based on healthcare and believes in supporting the health and well-being of people. It also provides fitness products and services, which help people in achieving their fitness goals. The startup was founded in 2011 and is known as India’s number 1 supplement store both in India and US. The company sells authentic health supplements, fitness equipment, weight loss products, protein supplements, sports gear, and wellness products. It delivers these health products online through a combination of an online portal and 95+ retail stores.
Healthkart Company Highlights
|Founders-||Prashant Tandon and Sameer Maheshwari|
|Industry-||Healthcare and Fitness|
|Competitors-||Gaia Herbs, 1mg|
Startup Story Of HealthKart
Both the founders studied from foreign universities and always wanted to start something of their very own. Even while working at corporate jobs, they exchanged ideas together. While brainstorming the industries they should open a startup in, they saw the healthcare sector is quite messy and unorganized in India. So, they quit their jobs and returned to India to start HealthKart. They worked with doctors and health institutions before launching a consumer-facing unit.
Mission of HeathKart
“We Understand Your Needs. Our mission is to deliver a premium-quality and affordable product range that covers the entire spectrum of all body types.”
Business Model of HealthKart
The founders tried 2-3 business models while running the startup. Finally, they made their services available to consumers directly. HealthKart is an e-commerce store which aims to provide products related to fitness and health. Consumers can order from the website and they provide doorstep delivery through third-party vendors such as Blue Dart, FedEx.
Revenue Model HealthKart
HealthKart makes a significant amount of its revenues (over 90%) from the sale of self-manufactured nutrition and wellness products. The remaining revenues are earned via other services like home delivery etc.
Funding of HealthKart
|Date||Series||Number of Investors||Money Raised|
|June 7, 2013||B||2||$14M|
|August 1, 2016||E||2||$12M|
|October 24, 2018||Venture Round||3||$10M|
|May 9, 2019||G||4||$25M|
|November 24, 2022||H||3||$135M|
Future Plans of HealthKart
The company plans to expand its store network, and to improve customer face offerings, it will use Data Science and Artificial Intelligence. It is also planning to set up more manufacturing plants for quick product development. The company has also set up a 30-member R&D team, including food scientists and pharmacists, and it’s developing next-gen nutraceuticals or consumable nutrition products built for the Indian market.