Hotline: 1800 102 2007
Search Business Opportunities
Investment 2015-11-26

Leading virtual fitness coaching platform GOQII closes $13.4mn Series A funding deal

The Series A fund was backed by New Enterprise Associates (NEA) and Cheetah Mobile Inc with additional support from Great Wall Club (GWC), DSG Consumer Partners, IlkkaPaananen and Pravin Gandhi.

Leading virtual fitness coaching platform GOQII closes $13.4mn Series A funding deal

World’s leading virtual fitness coaching platform GOQii has closed $13.4 million in Series A funding, to further accelerate the company’s already impressive growth and customer success.

Prior to this, the California-based company has raised an undisclosed amount of funds from the Founder & CEO of mobile internet firm, one97 Communications, Vijay Shekhar Sharma.

“This additional funding is a great vote of confidence in GOQii’s focus on accelerating revenue growth, as well as in the long term potential of our company. This funding also reflects the robustness of the sector”, said Vishal Gondal, founder and CEO, GOQii.

The investment was led by global venture capital firm New Enterprise Associates (NEA) with participation from Cheetah Mobile Inc, the leading developer of mission-critical mobile utility applications; Great Wall Club (GWC), a private network for innovators and executives from leading mobile companies worldwide; DSG Consumer Partners, an investment company focusing on identifying, selecting and investing in consumer businesses; IlkkaPaananen, CEO &Co- founder of Finnish gaming start-up Supercell; angel investor and entrepreneur Pravin Gandhi and Gondal.

“We believe that GOQii is redefining the wearables market globally and with its combination of technology, world's leading experts, coaches and karma points on a single platform is uniquely positioned to lead in it,” Bala Deshpande, Senior Managing Director, New Enterprise Associates India Pvt. Ltd.

Significantly, the International Data Corporation (IDC) Worldwide Quarterly predicts that wearable device shipments will reach 76.1 million units in 2015, up 163.6 per cent from the 28.9 million units shipped in 2014. By 2019, worldwide shipments are expected to reach 173.4 million units, resulting in a five-year compound annual growth rate (CAGR) of 22.9 per cent.

Meanwhile, Gondal further noted, “We are a category defining player, that of services that can be delivered on Wearable platform. Our bands agnostic approach and virtual delivery model has received tremendous reception globally and we are now planning to replicate this success in key markets of China and US.”

In the entire Series A funding process, Signal Hill acted as the Financial Advisor to GOQii and Goodwin Procter provided Legal Advisory Services.

Headquartered in California with offices in Mumbai and Shenzhen, GOQii is dedicated to enabling a permanent shift to a healthier lifestyle with the combination of advanced wearable technology, the world’s leading experts, coaches and karma.

Related opportunities
  • Others Food Service
    About Us: MASTER SHAKES & BEVERAGES Ltd - India's No.1 Food &..
    Locations looking for expansion Madhya pradesh
    Establishment year 2012
    Franchising Launch Date 2012
    Investment size Rs. 5lac - 10lac
    Space required 150
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Indore Madhya pradesh
  • Men's footwear
    About: Established in 2010, Vision Footcare India Private Limited is promoted..
    Locations looking for expansion Delhi
    Establishment year 2010
    Franchising Launch Date 2018
    Investment size Rs. 30lac - 50lac
    Space required 600
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • About Us: PIND BALLUCHI is known across the country for its..
    Locations looking for expansion Delhi
    Establishment year 1992
    Franchising Launch Date 2018
    Investment size Rs. 1 Cr. - 2 Cr
    Space required 400
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater del Delhi
  • About  THE KETTLERY (CPK Food and Beverages Pvt. Ltd.) An exclusive tea..
    Locations looking for expansion Gujarat
    Establishment year 2015
    Franchising Launch Date 2015
    Investment size Rs. 20lac - 30lac
    Space required 400 - 800 Sq.ft
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Ahmedabad Gujarat
Insta-Subscribe to
The Franchising World
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities
More Stories

Free Advice - Ask Our Experts