Sumeru Ventures led a $50 million (Rs 375 crore) Series-C funding round for healthtech startup Goqii. According to the company, the round included a mix of equity, including preference shares, and debt investments.
The funds will be used to improve Goqii’s current products, which include a wearable fitness tracker, an app, a health store, as well as real-time coaching and insurance services, according to the company. The funds will also be used to expand in areas such as insurance, digital therapeutics, and international markets.
Modality (Digality), a UK primary health care and community services provider, venture capital funds such as 9Unicorns and Venture Catalysts, funds advised by MegaDelta, Mitsui, The Times Group, Ascendo, Rain Instant Pay chief executive Akbar Khan, and restaurateur Sanjay Narang were among the other investors in the round.
Blacksoil Capital and Trifecta Capital led the venture debt financing.
Apart from its current offerings, Goqii, founded in 2014 by Vishal Gondal, is targeting therapeutic areas such as diabetes, women’s health, and radiology.
Goqii plans to launch international offerings focusing on various preventive healthcare solutions, according to Gondal, who is also the company’s CEO.
“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.
Get to know the pulses of the Indian startup ecosystem in reality by attending “INDIA FIRST TECH STARTUP CONCLAVE & AWARDS’22-Delhi Chapter” organized by the All India Council for robotics and automation, supported by the Ministry of electronics and information technology.
The event is scheduled to be held on the 17th and 18th of February 2022, marking the biggest tech startup event this year. The event brings together the speakers that are the best breed of entrepreneurs, innovators, venture capitalists, government department’s representatives, business model creators, consultants, policy-makers, academicians, support groups, business coaches and business practitioners.
The Platform helps startups to ramp up their innovative ideas and show off their services and products to attract investors. The experts of the industry will address and discuss all the innovations happening around the startup environment that youth empowerment and new-age tech business ideas can grow.
Click to know more about India’s biggest tech startup event: https://www.aicra.org/events/delhi/index.php