Wellness Franchise Opportunities

Startup FundingJul, 03 2015

Fitness tracker GOQii raises fund from Paytm Founder Vijay Sharma

Start-up GOQii Technologies Pvt Ltd, known for its fitness tracking device, has raised an undisclosed amount of funds from Vijay Shekhar Sharma, founder and CEO of mobile internet firm One97 Communications.

By WI Bureau

Incorporated in 2013 by Vishal Gondal, California-headquartered start-up GOQii, offering hi-tech device to track fitness, has offices in Mumbai and Shenzhen (China). The company has recently raised an undisclosed amount of funds from the Founder & CEO of mobile internet firm, one97 Communications, Vijay Shekhar Sharma. The company has been making headlines for its fastest growing Indian e-commerce shopping websites Paytm, launched in 2010.

Significantly, GOQii offers a combination of wearable technology, expert-led personalised coaching and elements of social philanthropy to enable its users to make a permanent shift to a healthier lifestyle. For the same, it focuses on sustained engagement and goal reinforcement, and offers a complete ecosystem as a single integrated solution, which is a combination of technology and human connection.

Gondal, who himself has invested in a lot of star-up projects has also founded Indiagames’.

"With the coach marketplace model, we intend to have 1,000 coaches on board by the end of this year offering the customers an opportunity to choose who they want to be coached by. We are happy to have celebrated coaches like Satya who is an independent coach and is witnessing a strong demand from our users for his services,” said Gondal.

GOQii has an existing user base of less than 50,000 customers in India, integrating 35 major fitness bands including Jawbone, Fitbit, Garmin, Moov, Misfit and Sony. It operates across big countries like Singapore, India, Malaysia, Dubai, Abu Dhabi and the USA.

Reportedly, Sharma invests in early stage startups from his company’s One97 Mobility Fund.

"Wearables are a piping hot sector both globally and in India. Juniper Research estimates global shipments in wearables to increase to 150 million units by 2018. Add to that the health and fitness segment and we are looking at a massive opportunity in the same. GOQii, with its combination of technology, world's leading experts, coaches and karma points on a single platform, is uniquely positioned to to lead in it," said Sharma.

Worth recalling, the GOQii Company has raised an undisclosed amount in angel funding from Neeraj Arora, Business Head, WhatsApp Inc, and Marco Argenti, Vice President (mobile) at Amazon Web Services.

Significantly, GOQii is also backed by angel investors Amit Singhal (Google), Sanjay Parthasarathy (Indix), Deepak Shahdadpuri (DSG), Rajan Anandan (Google), S Somasegar (Microsoft) and Vijay Vashee (Microsoft) to name a few.

Related: Bangalore-based start-up CureJoy secures $1.15M funding led by Accel Partners

Click Here to add Comment
Please add your Comment
Rating
Sell Business 2017
Sell Franchise 2017

Newsletter Signup

Submit your email address to receive the latest updates on news & host of opportunities from Wellness India.

Video

Magazines & Books

Read the latest franchising magazines and books to get comprehensive and up-to-date information on leading franchise systems, trends and more.


Newsletter Signup
Submit your email address to receive the latest updates on news & host of opportunities.
Well Ness India

Copyright © 2009 - 2017 Franchise India Holdings Ltd.

The information contained herein is of generic nature only, and Franchise India is not, by means of this website or any part thereof, rendering professional advice or services. Before making any decision or taking any action that might affect your finances or business, you should consult a qualified professional advisor. Your use of this website or any of its pages or links given, is at your own risk and you assume full responsibility and risk of loss resulting from your usage. With respect to use of the website, kindly visit www.franchiseindia.com/terms.