Fitness startup GOQii raises ₹212 crore in a round led by Japan’s Mitsui

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Mumbai-based wearable tech startup GOQii has raised more than ₹212 crore ($30 million) in a fresh funding round led by Japan’s Mitsui & Co, according to an Economic Times report.

Other investors including crypto investment firm Galaxy Digital and Denlow Investment Trust, along with existing investors DSG Consumer Partners, NEA, Edelweiss Financial Services, Cheetah Mobile, Paytm founder Vijay Shekhar Sharma, and Tata Group chairman emeritus Ratan Tata, also participated in the round.

The funds raised will be used to expand to the overseas market over the coming 12 to 18 months. The money will also be used for talent acquisition and marketing. A part of the funds will also be used to strengthen its data analytics and artificial intelligence platform, in order to drive actionable insights and to provide a holistic view of a user’s health.

GOQii was founded by Vishal Gondal in 2014. The startup provides a comprehensive digital health and wellness solution with an ecosystem facilitating a permanent shift to a healthier lifestyle. It offers a smart fitness band, an app, a care team which includes a personal coach, experts, and a doctor, to provide a complete ecosystem, to help individuals in their fitness journey.

Koji Nagatomi, COO of the Healthcare and Service Business Unit of Mitsui, said, “GOQii’s product offering is highly complementary to our portfolio of healthcare investments in India and Globally and we see several areas of immediate collaboration between us and GOQii. We also see a strong potential for GOQii to enter the Japanese market and are ready to help GOQii achieve its vision and ambitions.”

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