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HealthKart raises $153 Mn, completes first ever ESOP buyback
Entrackr
·
8m ago
Medial
Omnichannel nutrition platform HealthKart has raised $153 million led by ChrysCapital and Motilal Oswal Alternates. Existing investor A91 Partners along with Neo Group also participated in the new round. HealthKart owns and operates several nutrition brands including MuscleBlaze, HKVitals and Gritzo. Apart from online presence, the firm has over 200 retail stores across 90 cities. In December 2022, HealthKart raised $135 million led by Temasek with participation from A91 Partners and Kae Capital. According to the startup data intelligence platform TheKredible, the Gurugram-based firm has raised around $360 million to date. As per the company’s press release, it crossed 1,000 crore in revenue threshold in FY24, and also achieved full year EBITDA profitability during the said fiscal year. While the firm has yet to file the audited numbers officially, it recorded Rs 832 crore revenue in FY23 with a loss of Rs 76 crore. HealthKart spun off its generic drug search business, HealthKartPlus, in 2015 and rebranded it as 1mg, which now operates under Tata 1mg Technologies Private Limited. Along with the funding, HealthKart has also announced its first ever employee ESOP buyback plan worth Rs 55 crore ($6.5 million). The buyback will benefit both current as well as former employees. According to TheKredible’s data, more than 20 startups have implemented ESOP buyback, liquidity, and payout programs worth around $200 million in the ongoing calendar year (2024).
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Related News
NowPurchase completes maiden ESOP buyback
Entrackr
·
8m ago
Medial
NowPurchase, a SaaS-enabled marketplace for metal manufacturers, has completed its first-ever Employee Stock Option Plan (ESOP) buyback.
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Agritech startup DeHaat completes its first ESOP buyback
Entrackr
·
1y ago
Medial
Full stack agritech platform DeHaat has completed an employee stock ownership plan (ESOP) buyback program worth Rs 10 crore ($1.2 million). This is the first ever ESOP buyback for the Patna and Gurugram-based company. “The buyback saw 153 team members spread across senior vice president rank to field teams got the opportunity of wealth creation,” said Rishu Garg, who heads the people function at DeHaat. To date, DeHaat has issued ESOPs worth over Rs 100 crore ($12 million) to more than 200 individuals. DeHaat is a marketplace for the agricultural sector which offers distribution of high-quality agrarian inputs, advisory, lending, and market linkages for selling their produce. The company recently roped in Bollywood actor Pankaj Tripathi as its brand endorser and onboarded agri industry veteran Dr. K V Subbarao as its first Independent Advisor. DeHaat’s gross revenue grew 54.2% to Rs 1,965 crore in FY23 from Rs 1,274 crore in FY22. The company said that its revenue from operations increased 40% to Rs 2,700 crore while losses was reduced by 50% in FY24. The firm aims to achieve full year profitability during FY25. Dehaat has raised around $230 million to date and was valued at over $705 million according to startup data intelligence platform TheKredible. Last week, study abroad platform Leverage Edu announced its second ESOP buyback program. In the ongoing calendar year, Urban Company, MyGate, Classplus, Meesho, The Sleep Company, XYXX, and Pocket FM also completed their ESOP buyback scheme.
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DeHaat Completes First ESOP Buyback Worth INR 10 Cr, Eyes Full Year Profitability In FY25
Inc42
·
1y ago
Medial
Agri-tech startup DeHaat recently conducted its first employee stock ownership plan (ESOP) buyback, benefiting 153 team members, including senior vice presidents and field teams. The company has issued ESOPs worth over INR 100 crore to more than 200 individuals. Additionally, DeHaat reported a 40% year-on-year increase in its revenue from operations, totaling INR 2,700 crore in FY24, while also narrowing its losses by 50% YoY.
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A23-parent Head Digital Works rolls out ESOP buyback worth $3 Mn
Entrackr
·
9m ago
Medial
Head Digital Works, the parent company of skill gaming platform A23, has completed its first-ever employee stock options (ESOP) buyback program, totaling $3 million. Approximately 97% of eligible ESOP holders participated in the program, with nearly half of the company's 500+ employees benefiting from the buyback. Head Digital Works, founded in 2006, offers online gambling and fantasy gaming platforms such as A23, Fanfight, and Cricket.com, with over 70 million registered users. The company aims to promote Rummy as a professional game and has raised $91 million in funding. Several other startups have also implemented ESOP buybacks in 2024, amounting to over $190 million.
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ChrysCapital, Motilal Oswal lead $153 million secondary funding in Healthkart at $500 million valuation
Economic Times
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8m ago
Medial
Gurugram-based health supplement startup, Healthkart, has raised $153 million in a funding round led by ChrysCapital and Motilal Oswal Alternates. This funding round included the company's first-ever employee stock option plans (Esops), worth Rs 55 crore. Existing investor A91 Partners and Neo Group also participated in the round. This latest investment values Healthkart at $500 million. The company, which owns several nutrition brands, achieved full-year Ebitda profitability and crossed the Rs 1,000 crore revenue milestone in FY24.
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Pocket FM completes its first ESOP buyback worth $8.3 Mn
Entrackr
·
1y ago
Medial
Audio series platform Pocket FM announced that the company has completed its first ESOP buyback worth $8.3 million. The buyback of stock comes soon after $103 million Series D funding announced by the Bengaluru-based company. Former and existing employees, holding vested stocks in the company, participated in this process, the company said in a press release. The company was valued at $750 million during the latest fundraise and has been growing at a high speed. According to PocketFM, it surpassed $150 million (Rs 1,250 crore) ARR, and is growing at 57% QoQ. In 2023, it processed over 20 million transactions and claimed that its US revenue crossed $100 million in average revenue run rate (ARR) during the last calendar year. The buyback has come at a time when Pocket FM is reportedly in late-stage conversation to raise a new round which would catapult it to the unicorn club. Pocket FM is the fourth growth stage company that has announced stock buyback in 2024. Recently, e-commerce company Meesho rolled out its largest ESOP buyback worth $25 million for 1,700 employees (past and current). Community management app MyGate and edtech company Classplus also announced their employee stock buyback program earlier this year. As per data compiled by TheKredible, the total EOSP buyback/payout/liquidity stood at nearly $802 million in 2023. In 2021 and 2022, the buyback amount was recorded at $440 and $200 million respectively. Pocket FM claims 2,000 exclusive audio series and more than 400,000 episodes across genres and languages. While the company’s real financial picture could be decoded when it discloses full-fledged FY24 results, Pocket FM’s revenue zoomed 8X to Rs 148.7 crore in the fiscal year ending March 2023. The firm also improved unit economics and reduced its losses by about three-fourths in the last fiscal year.
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Darwinbox completes Rs 86-crore Esop buyback from 350 employees
Economic Times
·
1m ago
Medial
Darwinbox, a SaaS unicorn specializing in HR services, completed an Rs 86-crore ESOP buyback from 350 employees, marking its largest such initiative. This is the company's third ESOP buyback in four years. The move reflects Darwinbox's commitment to employee wealth creation as the firm continues to grow. Darwinbox aims for over 50% revenue growth in FY25, building on a 58% rise in FY24 revenue, driven by international expansion and enhanced R&D efforts.
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ChrysCapital, MO Alts lead $153 mn round in HealthKart
VCCircle
·
8m ago
Medial
Private equity firms ChrysCapital and MO Alts have led a $153 million investment round in HealthKart, operated by Bright Lifecare. The nutrition platform aims to use the funds for expansion and acquisitions. This investment follows a $135 million funding round led by Temasek in 2020. HealthKart has a range of digital nutrition brands and operates over 200 stores across India. In the fiscal year 2024, the company achieved full year EBITDA profitability and revenue of over INR 1,000 crore.
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Edtech Soonicorn Classplus Announces Second ESOP Buyback For Over 150 Employees
Inc42
·
1y ago
Medial
Delhi NCR-based edtech startup, Classplus, has launched its second employee stock ownership plan (ESOP) buyback program, allowing over 150 employees to sell their vested shares. The exact amount dedicated to the buyback remains undisclosed. Classplus became the first edtech startup to announce a buyback this year. With 748 employees, over 20% of them are eligible for the program. In its first ESOP buyback, 30 employees participated, resulting in a worth of $1 million. ESOP allocations are expected to increase this year, with 55% of Indian startup founders relying on them to attract talent.
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Even Healthcare launches first ESOP buyback worth $500K
Entrackr
·
4m ago
Medial
Even Healthcare launches first ESOP buyback worth $500K Managed care provider Even Healthcare announced its first-ever Employee Stock Ownership Plan (ESOP) buyback within three years, joining Indian startups using stock rewards to retain talent and boost employee wealth. Even announced a buyback worth $0.5 million for its employees at the primary valuation without any discount. According to the company, this ensures employees receive maximum earnings from their sale and do not face an “ESOP haircut.” This buyback follows Even Healthcare’s $30 million Series A funding round in October last year. “At Even Healthcare, we believe in creating long-term financial opportunities for our employees. This buyback is a testament to our commitment to ensuring everyone who contributes to Even’s growth benefits from it. We are proud to set a new benchmark in the industry and look forward to expanding our ESOP program further,” said Matilde Giglio, co-founder of Even Healthcare. Founded in 2020 by Mayank Banerjee, Giglio, and Alessandro Ialongo, Even Healthcare offers its members free consultations, diagnostic tests, and cashless hospitalization through its in-house clinical team and insurance partners. According to the company, it only partners with hospitals that guarantee the care of its members in exchange for a recurring payment.
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