Goqii Raises USD 50 million in Series C led by Sumeru Ventures

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

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 international markets, insurance and digital therapeutics.

“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.
Goqii is targeting therapeutic areas including in diabetes, women's health and radiology, apart from its current offerings founded in 2014 by Vishal Gondal. Goqii is set to launch international offerings focusing on various solutions around preventive healthcare, according to Gondal, who is also its CEO.

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