Wearables startup GOQii has raised a series-B funding led by Japan’s Mitsui. The round includes new investors like Galaxy Digital, a leading blockchain merchant bank who invests via its Galaxy EOS VC fund that which is focused on developing the EOSIO ecosystem, and Denlow Investment Trust, a leading LP in several consumer and tech focused funds globally.
Existing investors like NEA, DSG Consumer Partners, Vijay Shekhar Sharma and Ratan Tata also participated in this round.
The Economic Times pegged the deal value at $30-35 million (around Rs 215-250 crore at current exchange rates). It added that GOQii, which is led by Indiagames founder Vishal Gondal, had raised the sum at a valuation of $100-125 million. However, GOQii has yet to make an official statement in this regard.
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Founded in 2014 by Gondal, the company will the use the funds for hiring fresh talent, marketing and expanding geographically, GOQii said in a statement. It will enable GOQii to penetrate the Indian market further and will also mark its entry into Japan.
GOQii is a digital health and fitness subscription service that combines one-on-one mobile personal coaching and fitness tracking technology to help you shift to a healthier lifestyle.
With the fund infusion company will strengthen its big data and artificial intelligence platform to drive actionable insights and provide holistic view of a user’s health.
GOQii Series A funding was in 2015 and led by NEA. Cheetah Mobile and Great Wall Club from China and existing early-stage investor DSG Consumer Partners had also participated.
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