Healthcare Platform GOQii raises $50M in Series C led by Sumeru Ventures

GOQii the tech healthcare startup raised $50 million (around Rs.375 crores) in Series C funding round led by Sumeru Ventures. The company was founded by Vishal Gondal in 2013.

GOQii, headquartered in California raised capital through equity and debt, Blacksoil Capital and Trifecta Capital conducted the venture debt funding, whereas the equity led by Sumeru Ventures. The capital raised will be used in the growth of digital therapeutics and insurance in India. GOQii will focus mailing on various solutions around preventing healthcare, internationally.

Also, noticed participation from current buyers Mitsui, budget cautioned with the aid of using Mega Delta, DSG Consumer Partners, Galaxy Digital, Denlow Investment Trust, Edelweiss, Cheetah Mobile, GWC, Ratan Tata, Vijay Shekhar Sharma amongst others.    

The founder and CEO of GOQii, Vishal Gondal said “This funding round would help GOQii not only strengthen its current offerings but also expand in insurance, digital Therapeutics and international markets, where the foundation has already been built by us over the years.”

According to the founder of GOQii Vishal Gondal, his first venture capital IndiaGames was acquires by DisneyUTV Digital in 2012. GOQii is an Indian tech enabled healthcare platform head-quartered in California, USA which provides a wearable fitness band that connects to a mobile application and gives a remotely personalised coaching. It collects the activities and sleep cycle of the customers, later it is reviewed by a personal coach by a mobile app which guides customers about their health and fitness goals. They also target areas including in women’s health, diabetes and radiology.

Customers has to pay for subscription as to get access to the top rate services. The GOQii associate app permits customers to percentage their stats on social media and tracks Karma factors.

The app additionally helps a Hi-five characteristic in which a educate can congratulate a consumer for being on track. Players earn Karma once they meet each day goals. On August 4, 2016, in partnership with Thyrocare and Max Healthcare, GOQii released its new version, which protects a “non-public Health Locker” and a life-style doctor (referred to as the GOQii Doctor), who’s a certified physician (MBBS/MD) and to be had at the GOQii platform for scientific consultation.

In addition, a participant also takes a ‘Health Risk Assessment’ take a look at and get their ‘Health Score’ thru the app. The Health Locker consists of a diagnostic’s characteristic permits customers to book tests, take them from domestic and get consequences directly.

Rohit Pareek, who has worked with Jefferies, JM Financial and The Times Group was hired as the company’s Chief Financial Officer (CFO) and head of corporate development.

Saumen Chakraborty, the Managing Director at Sumeru Ventures said “health is a fundamental need which cannot be met with the traditional curative infrastructure alone. GOQii has been a significant contributor to the preventive healthcare ecosystem in India. We are confident that this funding round would help GOQii scale it to further heights.”

Digital therapeutics and healthtech corporations are gaining traction amongst investors. GOQii`s opponents with inside the area consists of VC-backed corporations such as Healthifyme, Ultrahuman HQ, Gymtrack and Tonal.