Paytm founder and chief executive Vijay Shekhar Sharma has invested an undisclosed amount in the fitness tracker start-up GOQii Technologies. Founded in 2013 by angel investor and former Indiagames chief executive Vishal Gondal, GOQii is headquartered in California, US. It is now backed by angel investors like Amit Singhal (Google), Shriram Nene and his wife and Bollywood actress Madhuri Dixit among others.
"With the coach marketplace model, we intend to have 1,000 coaches on board by the end of this year offering the customers an opportunity to choose who they want to be coached by," said Gondal, the chief executive officer of GOQii, in a statement. With operations across countries like Singapore, Malaysia, Dubai, Abu Dhabi and the US, GOQii has an existing user base of almost 50,000 customers in India.
According to PTI, it is integrated with 35 major fitness bands including Jawbone, Fitbit, Garmin, Moov, Misfit and Sony, the start-up said in a statement. GOQii offers a fitness tracker band, coupled with a personal coach who works with the user's activity and sleep data to provide customised advice on a regular basis.
"Wearables is a piping hot sector both globally and in India. Juniper Research estimates global shipments in wearables to increase to 150 million units by 2018. Add to that the health and fitness segment and we are looking at a massive opportunity," Sharma said.
GOQii has raised over USD 2.5 million. Its other investors include names like Mahesh Samat (Epic), Mike McNamara (Flextronics), Neeraj Arora (WhatsApp), Marco Argenti (Amazon) and Rajan Anandan (Google), among others. According to sources, the company is in talks to raise more funds to fuel its expansion plans.
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