Fitness device maker GOQii raises Rs 45 cr from Bennett Coleman

GOQii Technologies, which makes wearable fitness devices, has raised over Rs 45 crore from Bennett Coleman and Company (BCCL).

It issued five warrants, each priced at Rs 9.1 crore, and one equity share for Rs 8,535, raising a total of Rs 45,50,08,535, according to RoC filings of the company. 

In June 2019, GOQii raised an undisclosed amount from Bollywood actor Akshay Kumar as part of its ongoing Series C funding round.

Founded in 2014 by Vishal Gondal, the California-based company has offices in Mumbai and Shenzhen.

GOQii offers a digital health and fitness subscription service that combines one-on-one mobile personal coaching and fitness tracking technology.

The company offers a combination of wearable technology and expert-led personalised coaching to enable users to lead healthier lives. The company’s other value-added services include a health e-commerce store, health check-ups scheduler, a health locker and a GOQii Cash programme which rewards users with cash discounts on achieving certain health and fitness goals.  

In November last year, the company raised an undisclosed amount through a mix of equity and venture debt in a Series B round of funding led by Japanese conglomerate Mitsui & Co.

The other investors include New Enterprise Associates, DSG Consumer Partners, Paytm founder and chief executive Vijay Shekhar Sharma and Tata Sons chairman emeritus Ratan Tata.