Bright Lifecare, the India-based owner of online health product retailer Healthkart, which counts chipmaker Intel as an investor, has raised $25m in series G funding, Business Standard has reported.
The capital was supplied by Sofina, the investment firm also known as Advent Management.
Founded in 2011, Healthkart operates a mobile app and physical retail outlets that sell health, fitness and nutritional products such as supplements and vitamins. It also sold pharmaceuticals through a service called HealthkartPlus before it was spun out as 1mg in 2015.
TechCircle had reported in October 2018 that Healthkart was close to raising $10m in a round led by Sequoia Capital India that would include IIFL Alternate Asset Advisors, a subsidiary of financial services conglomerate IIFL Holdings, though the company has not revealed whether that round closed.
Healthkart collected $12m in a 2016 series E round featuring Sequoia Capital India, Kae Capital and unnamed investors. It has not disclosed details of its series D funding, but it was reported to be in talks to raise $30m in a series C round in 2014.
Intel’s corporate venturing unit, Intel Capital, backed a $14m series B round for the company in 2013 that also featured Sequoia India. The latter had joined Kae Capital and Omidyar Network in a $7.5m series A round that followed $1m from Sequoia India and Kae Capital in 2011.