Healthkart raises $25 million from Advent Management.
In the financial year 2018 Healthkart revenue enhances 56.3% from Rs 120.59 crore in FY17 to Rs 188.52 crore.
Healthkart losses dropped by 46.5% to Rs 22.4 crore.
The healthcare market is aggressively enhancing and attaining the high interest of investors over the past couple of years. Most of the startups and companies in this domain are manufacturer and retailer of drugs but Healthkart is an innovative platform that deals with full stack omnichannel business and has also been the reason of its ease of receiving funds. Recently the company has raised almost $25 million from Advent Management (Belgium) via 1,96,420 Series G CCPS issued at a higher price of Rs 8,858.57 each signifying a jump in valuation as well.
Since last July the firm has raised over $50 million worth preference and equity capital. The company in October 2018 raised Rs 89.5 crore from IIFL Alternate Asset Advisors (IIFL Holdings) and Sequoia Capital in October 2018. This was three months after an Rs 65 crore worth investment led by Kalysta Capital and joined in with a minimum contribution by Gulu Lalchand Mirchandani.
A couple of months later, Mirchandani had invested another Rs 3 crore via 4,201 Series F CCPS worth Rs 7150.47 each. Following this investment, Akhil and Ashish Dhawan had also poured in Rs 70.76 lakhs and Rs 4.24 crore respectively. In return, they had purchased 991 and 5,942 shares of the same class (resp.).
The Yog Family Foundation had led this tranche with a Rs 14 crore investment via 19,606 Series F CCPS. Collectively, December 2018 saw Healthkart getting Rs 21 crore (approx $3 million) in funds. In the financial year 2018 The Sameer Maheshwari led company had seen a 56.3% increase from Rs 120.59 crore in FY17 to Rs 188.52 crore. The losses had dropped by 46.5% to Rs 22.4 crore in the same fiscal year.
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