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Business News/ Companies / Start-ups/  Healthcare platform GOQii raises $50 mn led by Sumeru Ventures
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Healthcare platform GOQii raises $50 mn led by Sumeru Ventures

Funds raised in this round will be used to grow the insurance and digital therapeutics vertical in India, GOQii said. It also plans to target therapeutic areas across diabetes, women's health, radiology through its digital therapeutics offerings

GOQii founder and CEO Vishal Gondal. Photo: MintPremium
GOQii founder and CEO Vishal Gondal. Photo: Mint

GOQii Inc, a tech-enabled healthcare platform, on Wednesday said it has raised $50 million (around 375 crore) in a Series C funding round led by Sumeru Ventures.

The round saw participation from existing investors Mitsui, funds advised by MegaDelta, DSG Consumer Partners, Galaxy Digital, Denlow Investment Trust, Edelweiss, Cheetah Mobile, GWC, Ratan Tata, Vijay Shekhar Sharma among others.

California-headquartered GOQii raised capital across equity, and debt while the equity round was led by Sumeru Ventures, Blacksoil Capital and Trifecta Capital led venture debt funding.

Funds raised in this round will be used to grow the insurance and digital therapeutics vertical in India, GOQii said. It also plans to target therapeutic areas across diabetes, women's health, radiology through its digital therapeutics offerings.

The company is also looking to launch its international offerings focusing on solutions around preventive healthcare.

Earlier GOQii raised an undisclosed sum in November 2018 in a round led by Mitsui, in 2019 actor Akshay Kumar invested an undisclosed amount as part of the Series C funding round.

Vishal Gondal, founder and CEO of GOQii said “this funding round would help GOQii not only strengthen its current offerings but also expand in insurance, digital therapeutics and international markets, where the foundation has already been built by us over the years."

Founded by Gondal in 2014, wearable fitness bands, personal coaching, and diagnostics are among the services offered by GOQii. Gondal has previously served as a managing director at The Walt Disney Company. His first venture IndiaGames was acquired in 2012 by DisneyUTV Digital, according to his Linkedin profile.

The company has also hired Rohit Pareek, an investment banker, as chief financial officer (CFO) and head, corporate development. He has previously worked with Jefferies, JM Financial and The Times Group.

Saumen Chakraborty, managing director at Sumeru Venture said “health is a fundamental need which can not be met with the traditional curative infrastructure alone. GOQii has been a significant contributor to the preventive healthcare ecosystem in India. We are confident that this funding round would help GOQii scale it to further heights."

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ABOUT THE AUTHOR
Anuj Suvarna
Anuj Suvarna covers startups and venture capital. He writes about funding and acquisitions in VCCircle. When not writing about the Indian startup ecosystem, he likes to read non-fiction books, spend time with his pets (dad to 2 dogs and a cat) and go on treks. Previously, Anuj ran a restaurant consulting business and a bar in his hometown of Udupi.
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Published: 16 Feb 2022, 01:03 PM IST
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