Ratan Tata , chairman emeritus of Tata Sons and also a
serial investor has added another to his start-up funding list by investing in
a virtual fitness coaching platform GOQii. However the amount of funding
remains undisclosed.
Talking about the investment , vishal gondal ,CEO and
founder of GOQii said “With the recent
developments and tie-ups on the platform, the investment from Tata is a
testimony to us being a defining player of services in our category making
long-term impact in people’s life. We feel honored and it further boosts our
confidence to accelerate the pace of our growth. We will ensure that GOQii
reaches new heights in the healthcare space in India.”
What
is GOQii?
Founded in February 2014 by Vishal Gondal,founder of India
games ltd., GOQii is a smart wearables start-up which helps in tracking your steps,
sleep and any other physical activity. It brings you personalized healthy
lifestyle coaching along with comprehensive health management to reach your
goals. GOQii does this by connecting your activity tracker or smart watch to a
professional health and fitness coach of your choice via the GOQii app. The company’s app can integrate with 35 major
fitness bands including Jawbone, Fitbit, Garmin, Moov, Misfit, and Sony. Users
have to decide on a goal and choose a coach to guide them on the application. It is headquartered
in California, with offices in Mumbai and Shenzhen.It has different
subscription rates ranging from Rs 3999 for 12 months , Rs 2999 for 6 months
and Rs 1999 for 3 month
.
Market share of GOQii
According
to a research fitness bands have dominated the India’s wearable market with
87.7% of the market share. Meanwhile smart wearables such as smart watches
contributed to around 12.3%. GOQii led the
market with 16.1% share in the April-June quarter. It recently launched a
fitness band and integrating doctors and health services as part of its plans
to establishing itself as a preventive healthcare company.
This is not the only big funding GOQii has received so far.
Prior to this , it raised about $13.4
mn(INR 88 crores) led by New
Enterprise Associates (NEA) and China-based Cheetah Mobile. In addition, it raised capital from Vijay
Shekhar Sharma of Paytm and also from Neeraj Arora.
