Paytm CEO Vijay Shekhar Sharma joins the list of angel investors that have invested an undisclosed sum into fitness startup GoQii. Economic Times reports that Sharma’s funding takes the total amount invested in GoQii to about $2.8 million (Rs 17.7 crore).
“Wearables is a piping hot sector both globally and in India. The startup with its combination of technology, experts and coaches on a single platform is uniquely positioned to lead in it.” Sharma told the publication.
GOQii was founded by Vishal Gondal in 2013 (who earlier founded Indiagames that was acquired by Disney) with an aim to provide fitness services in a rather unique manner. It has an enviable set of investors, including Google’s search guru Amit Singhal, Flextronics CEO Mike McNamara, Basis Band co-founder Bharat Vasan, Seagate’s former CEO and current Chairman Steve Luzco as well as Bollywood superstar, Madhuri Dixit-Nene and her surgeon husband Dr Shriram Nene, among others. Last year, Gondal even raised funding from WhatsApp’s Neeraj Arora, and Marco Argenti, VP Amazon Web Services – Mobile.
Gondal told BGR India earlier, “We are building the world’s largest gym chain without owning any gym floor. We believe the world is a gym and the coach is in the cloud.”
Unlike other fitness smartbands, GOQii not only tracks the user’s activity but also provides a coach that monitors and suggests changes a user can do to improve their health and lifestyle. Rather than charging for the hardware, GOQii charges subscription plans for access to its coaches, which are available over pre-scheduled calls or instant messenger. The app is compatible with 35 major fitness brands including Jawbone and Fitbit. Currently, GOQii charges Rs 3,999 for three months subscription, Rs 6,999 for a six-months subscription and Rs 11,999 for an annual subscription.