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March 19, 2013

Deal Alert: Intel Capital to lead 2nd round for pharma etailer Healthkart: report

Gurgaon-based start-up Bright Lifecare Pvt Ltd, which runs the online health store Healthkart.com, is about to close a Series B funding round of up to $14 million led by Intel Capital with Sequoia as a co-investor. Healthkart started in March 2011 with seed round of $1 million from Kae Capital and Sequoia. Omidyar Networks and Sequoia together invested $5.2 million in Jan 2012 in the company’s Series A round. Currently Healthkart’s monthly revenues are about $1 million and pre-money valuation for the round is reported to be about 2.5x of the current run rate. 

Healthkart sells products across fitness, health and personal care categories such as nutrition, diabetes, home devices, eye and personal care. It was founded by IIT Delhi alumni Prashant Tandon and Sameer Maheshwari. The company acquired MadeInHealth in May 2012. 

Source: iamwire.com

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