Ratan Tata invests in fitness startup GOQii

Leading industrialist and serial investor Ratan Tata has invested in fitness startup, GOQii . However, there is no word on the financial terms. GOQii is a leading player in the Indian wearables market, backed by angel investors like Shriram Nene and his wife and Bollywood actress Madhuri Dixit Nene and Neeraj Arora (WhatsApp). Speaking on the occasion, Vishal Gondal, CEO and Founder, GOQii said “This is extremely overwhelming and a special moment for all of us at GOQii. With the recent developments and tie-ups on the platform, the investment from Mr. Tata is a testimony to us being a defining player of services in our category making long-term impact in people’s life. We feel honored and it further boosts our confidence to accelerate the pace of our growth. We will ensure that GOQii reaches new heights in the healthcare space in India.” GOQii offers a fitness tracker band coupled with a personal coach. The US-based company had earlier raised USD 13.4 million in a series A funding in November 2015. According to the recent IDC report on the Indian wearable market, GOQii has been ranked number one with a market share of 16.1 percent in Q2 2016. GOQii also earlier raised USD 13.4 million in a Series ‘A’ funding in November 2015. The company has recently launched a new fitness band and integrating doctors and health services as part of its plans to establishing itself as a preventive healthcare company. It had partnered Max Healthcare as its hospital and medical partner and Thyrocare as the diagnostic partner to help its users book diagnostic appointments and consultations. Tata, Chairman emeritus of Tata Sons, has invested in a number of Indian and global startups in his personal capacity as well as through RNT Associates, a platform for several Ratan Tata’s initiatives and companies. These include firms like Snapdeal, Kaaryah, Urban Ladder, Bluestone, CarDekho, Sabse Technologies, Xiaomi, Ola, DogSpot.in, Tracxn, CashKaro, FirstCry and Teabox. With inputs from PTI