Health tech startup Goqii raises $50 million to expand offerings, go global – Economic Times

Health tech startup Goqii raises $50 million to expand offerings, go global – Economic Times

Mumbai: Healthtech startup Goqii has raised $50 million (Rs 375 crore) in its Series-C funding round led by Sumeru Ventures. The round comprised a mix of equity including preference share and debt investments, the company said in a news release.

Goqii will use the proceeds to strengthen its current offerings that include a wearable fitness tracker, an app, health store as well as real-time coaching and insurance services, the company said. It will also use the funds to expand in insurance, digital therapeutics and international markets.

Other investors in the round included UK primary health care and community services provider Modality (Digality), venture capital funds such as 9Unicorns, Venture Catalysts, funds advised by MegaDelta, Mitsui, The Times Group, Ascendo, Rain Instant Pay chief executive Akbar Khan and restaurateur Sanjay Narang.

The venture debt funding was led by Blacksoil Capital and Trifecta Capital.

Founded in 2014 by Vishal Gondal, Goqii is targeting therapeutic areas including in diabetes, women’s health and radiology, apart from its current offerings.

According to Gondal, who is also its CEO, Goqii is set to launch international offerings focusing on various solutions around preventive healthcare.

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“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,” said Saumen Chakraborty, managing director at Sumeru Venture.

Digital therapeutics and healthtech companies are gaining traction among investors. Goqii’s rivals in the space include VC-backed companies such as Healthifyme, Ultrahuman HQ, Gymtrack and Tonal.

The Economic Times is part of The Times Group.

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Source: https://economictimes.indiatimes.com/tech/startups/health-tech-startup-goqii-raises-50-million-to-expand-offerings-go-global/articleshow/89614526.cms