GOQii is a California-based fitness technology venture that offers wearable fitness bands paired with remote personalized coaching. The company was founded in 2013 by Vishal Gondal, the former CEO & Founder of Indiagames.
Bollywood superstar Akshay Kumar has reportedly invested an undisclosed amount in GOQii as a part of the company’s ongoing Series C funding round pertaining to raise $50 – $70 million.
GOQii has raised a total of $43.4 million since 2014 from investors including Mitsui & Co, DSG Consumer Partners, NEA, Edelweiss Financial Services, Cheetah Mobile, Vijay Shekhar Sharma and TATA.
Vishal Gondal, CEO of GOQii has earlier today confirmed The Economic Times that Kumar will be joining the board of advisors as the strategic advisor.
“We are extremely happy to have Akshay Kumar as part of our GOQii Family. He personifies the values that GOQii stands for and is a living example of what we advocate – Exercise, Eat healthy and rest well. GOQii is committed to making the world a healthy and happy place, with Akshay Kumar we will get there soon.”
– Vishal Gondal – CEO, GOQii
“I believe in the GOQii preventive health ecosystem, and am proud to be associated with such a passionate team. Health is not a short term goal and can be achieved by adopting a healthy lifestyle.”
– Akshay Kumar
Considering the insurance sector as the key to compete with Fitbit and Xiaomi, GOQii has partnered with companies dealing in health insurance including Max Bupa, Japanese conglomerate Mitsui and a number of others.
“Insurance, actually, is going to be our biggest play. We expect to launch several insurance products, which are currently in various stages of approvals with the IRDA, with different insurance companies over the next three to six months”
– Vishal Gondal – CEO, GOQii
Considering Japan as a potential market, GOQii has set up its subsidiary in Japan under the name GOQii KK in partnership with Mitsui who is an existing investor of GOQii. The subsidiary is projected to be launched in August. Moreover, GOQii will be launched in Hong Kong, Singapore and Malaysia in July.
GOQii claims to be serving a user base of 2.7 million currently, and targeting to stretch this number to 10 million by the end of this financial year.
