Exclusive: Healthkart Raises Rs 27Cr From Sequoia Capital, Omidyar

Ten-month-old Gurgaon-based start-up Bright Lifecare Pvt Ltd, which runs the online health store Healthkart.com, has raised Rs 27 crore in second round of funding from existing investor Sequoia Capital and another new investor Omidyar. The fund raised is expected to be used for expansion of its product portfolio and developing an online magazine.

This comes as one of the first few e-commerce funding deals in the New Year.

An e-mail query sent to the founders and investors did not elicit any response till the time of filing the article. However, sources close to the development confirmed the news to VCCircle.

Healthkart was reportedly looking to raise as much as $10 million, according to earlier media reports. Last April, the company raised $1 million as seed fund from Kae Capital and Sequoia Capital.

Co-founded by IIT alumni Prashant Tandon and Sameer Maheshwari, the e-commerce portal went live in March 2011, aiming to be a one-stop shop for all consumer healthcare needs.

Incidentally, Healthkart does not want to restrict itself as an online chemist store. It has started with diabetes, home medicines and baby care products, but has gone ahead to expand its portfolio. It currently offers nutrition products and other items essential for elderly care, personal care, chronic care, eye care and skin care.