Bollywood star Akshay Kumar invests in fitness device maker GOQii
GOQii Inc, which makes wearable fitness devices, has raised an undisclosed amount from Bollywood actor Akshay Kumar as part of its ongoing Series C funding round.
As part of the association, Kumar will serve as a brand ambassador and strategic advisor to GOQii, the startup said in a statement.
“Kumar will host one of the biggest health education initiatives called the ‘India Health Quiz’ on GOQii Play, the exclusive health and fitness live OTT platform. Given his passion for health, Kumar will be conducting live coaching sessions on GOQii Play,” the statement added.
Founded in 2014 by Vishal Gondal, the California-headquartered company has offices in Mumbai and Shenzhen (China).
GOQii offers a digital health and fitness subscription service that combines one-on-one mobile personal coaching and fitness tracking technology to help its users shift to a healthier lifestyle, according to information on its website.
The company claims to differentiate itself by providing ongoing engagement, motivation and accountability. It does this by connecting the activity tracker or smart watch to a professional health and fitness coach of the user’s choice via the GOQii app, which is available on both the iOS and Android ecosystems.
In short, it offers a combination of wearable technology, expert-led personalised coaching and elements of social philanthropy to enable its users to lead healthier lives.
Besides, its other value-added services include a health e-commerce store, scheduling health check-ups, a health locker and a ‘GOQii Cash’ programme which rewards its 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.
Goqii counts New Enterprise Associates (NEA), DSG Consumer Partners, Paytm founder and chief executive Vijay Shekhar Sharma, and Tata Sons chairman emeritus Ratan Tata among its other investors.
According to several media reports, the company is also on course to raise up to $70 million for its Series C round.
Walmart-owned Flipkart recently settled a legal dispute with GOQii, which alleged it suffered losses because its products were sharply discounted on the e-commerce giant’s website.