HealthTech platform GOQii has recently raised US$50 million in its Series C funding round led by a global VC firm Sumeru Ventures along with participation from other investors including 9Unicorns, Modality, Mitsui, Venture Catalysts, Ascendo, and The Times Group.
The company will be using the fresh funding to strengthen its present offerings that include an app, a wearable fitness tracker, a health store and real-time coaching and insurance services. It will also use the proceeds to expand in digital therapeutics, insurance, and international markets.
Vishal Gondal, Founder and CEO of GOQii said “this funding round would help GOQii not only strengthen its current offerings but also expand in insurance, digital therapeutics and international markets, where the foundation has already been built by us over the years.”
Saumen Chakraborty, Managing Director at Sumeru Venture said “health is a fundamental need which can not be met with the traditional curative infrastructure alone. GOQii has been a significant contributor to the preventive healthcare ecosystem in India. We are confident that this funding round would help GOQii scale it to further heights.”
Founded in 2014 by Abhishek Sharma, Sachin Janghel, Champ Alreja, and Vishal Gondal, GOQii is a smart-tech-enabled healthcare platform that offers wearable fitness bands, diagnostics, and personal coaching.
The company aims at enabling a permanent shift to a healthier lifestyle with the combination of advanced wearable technology, the world’s leading experts, coaches and karma. Its Smart Health ecosystem integrates tools for real-time personalized coaching, a healthcare ecommerce store, a health locker, scheduling health checkups, and a unique ‘GOQii Cash’ program where healthy behavior is rewarded with cash and insurance discounts based on health management data.
The startup is also several therapeutic areas across women’s health, diabetes, radiology etc. through its digital therapeutics offerings.
The company is headquartered in California with offices in Mumbai and Shenzhen. In India, GOQii competes with the likes of HealthifyMe, Cure.Fit, and Fittr among others