Eyeing on the potential health and nutrition market, e-commerce firm HealthKart is betting
One of the most sought after eCommerce firm, HealthKart is betting big on the multi-billion health and nutrition market in India with growing demand of health supplements and testing kits, says a PTI report.
So far, the not so big company with only 350 employees, has raised about USD 22.5 billion in three rounds of funding. Its investors include Sequoia, Intel Capital, Kae Capital and Omidyar Network to name a few.
“Unlike other retailers, we are in a speacialised category of health and it is growing in India. The nutrition market alone is about USD 2 billion, growing at 22-25 per cent,” Prashant Tandon, co-founder and Managing Director, HealthKart told PTI.
He further noted, "Health and devices with products like glucose testing kits and blood pressure monitors, is a USD3-5 billion market in India. The market is fragmented and offline retail alone cannot service the market and therefore, HealthKart sees a huge potential in the segment.”
On reverting to the plans of raising funds, Tandon said, “HealthKart has been receiving interest, but it is yet to finalise anything. We would need funds in the next 6-12 months, but we have not finalised anything yet.”
HealthKart is an e-commerce store for consumer healthcare products, founded in 2010 by Gurgaon based entrepreneur, Sameer Maheshwari and Prashant Tandon. The e-portal offers all health and fitness related products and claims to have a strong focus on authenticity of products, as healthcare is one of those segments which are plagued by a lot of fake products.