Healthkart, the online health store owned by India-based healthcare e-commerce company Bright Lifecare and backed by chipmaker Intel, has secured Rs 800m ($12m) in series E funding, Livemint reported yesterday.
The cash was provided by venture capital firms Sequoia Capital India and Kae Capital as well as unnamed investors.
Founded in 2011, Healthkart sells health and fitness products such as protein supplements and vitamins on its website, through its mobile app and in two physical retail outlets.
The company originally also sold generic drugs through HealthkartPlus, but Bright Lifecare decided to spin out that business as 1mg in April 2015 with $6m in initial capital.
The series E funding will go towards the opening of seven or eight additional stores, including two in Delhi, and marketing efforts.
Healthkart has not revealed details about its series D round. The company was reportedly in talks for a $30m series C round in 2014, though recent reports contain no mention of that round.
Intel’s corporate venturing subsidiary Intel Capital contributed to a $14m series B round in 2013 alongside Sequoia, following $7.5m in series A capital from Omidyar Network, Kae and Sequoia as well as a $1m investment from Kae and Sequoia in 2011.
Sameer Maheshwari, founder and managing director of Healthkart, said: “We plan to continue to expand into a wider range of nutrition products. The idea is that Healthkart should be able to address all preventive care and wellness needs of the consumer.”