Funding News

GOQii gets Akshay Kumar as its New Investor

GOQii has just raised fresh funds as part of its ongoing series C round. But these fresh funds haven’t come for the Mumbai based tech fitness startup from an independent investor or VC firm. They have come from the pockets of one of Bollywood’s most celebrated stars, Akshay Kumar.

Akshay Kumar

Akshay Kumar invests undisclosed amount in GOQii

Vishal Gondal, founder and CEO of GOQii, confirmed Economic Times (ET) about Kumar’s investment. He said that, apart from investor, Kumar will also join the board as a strategic advisor. However, he refused to divulge the funding details and therefore Kumar’s exact investment amount is still unknown.

We are extremely happy to have Akshay Kumar as part of our GOQii Family. He personifies the values that GOQii stands for and is a living example of what we advocate – Exercise, Eat healthy and rest well,” Gondal said.

Kumar now joins long and fast growing list of celebrity cum startup investors. This includes Sachin Tendulkar, Deepika Padukone, Hrithik Roshan, Malaika Arora and others.

GOQii is among the well-funded tech fitness startup that is trying to cash on growing health consciousness among the urban dwellers. The company manufactures and sells several fitness wearable products to help people lead a healthy and fit life. GOQii Vital, a smart fitness wearable product, is its flagship product that helps in tracking and monitoring our blood pressure & heart rate.

GOQii mostly sells all its products through popular e-commerce platforms like Flipkart and Amazon.  However, the company recently dragged Flipkart to the court over alleged practice of predatory pricing. Both parties have now agreed to settle for out of the court settlement.

The company is aiming for 10 Mn customers by the end of 2020. This may not appear as a lofty goal for Gondal, who become an overnight sensation in 2011 after selling his mobile gaming company IndiaGames to media giant Walt Disney.

 

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