Intel Capital announces investments in Healthkart, Snapdeal and Singapore-based online retailer
Intel Capital has announced an investment of $16 million in three companies—Gurgaon-based startup Bright Lifecare Pvt Ltd, which runs online health store Healthkart.com; Delhi-based e-commerce firm Snapdeal and Singapore-based online retailer Raboonz.com. Intel Capital has not disclosed how much each company has raised from it.
For Bright Lifecare, this is a Series B round in which Intel Capital has been joined by existing investors, including Sequoia Capital. Snapdeal closed its Series D round worth $50 million with an entry by three venture funds, including Intel Capital.
Healthkart was set up in 2011 by IIT Delhi alumni Prashant Tandon and Sameer Maheshwari. Prior to starting this venture, Tandon worked for companies such as McKinsey & Company, MapmyIndia and Unilever. He holds an MBA from Stanford University Graduate School of Business. Talking to Techcircle.in, Tandon said this amount will be used for enhancing technology and distribution. "We are also looking at expanding our product range and will be bringing international drugs to India," Tandon said.
Earlier this year, Healthkart.com started selling prescription drugs via its drug search engineHealthkartplus.com. There were rumors of a Series B round at that time as well. The platform was launched in September last year; it has a mobile app as well. Tendon said that the app has seen around 50,000 downloads and the platform is getting double-digit orders a day. "Currently Healthkartplus is available only in Delhi-NCR. We will be looking at expanding to other metros," Tandon said.
This is the startup's third round of institutional funding. In April 2011, it raised $1 million as seed fund from Kae Capital and Sequoia Capital. This was followed by a Series A round worth Rs 27 crore from Sequoia Capital and Omidyar Network in January 2012.
Reebonz.com, one of the largest private sales e-commerce groups in Asia, sells luxury goods to customers across Southeast Asia, North Asia and Australia. Intel Capital first invested in the company in 2012. Following the investment, Reebonz.com launched Reebonz Vintage, a marketplace for pre-owned luxury goods, and Kwerkee.com, which sources and sells unique products from designers across the world.
(Edited by Joby Puthuparampil Johnson)