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Ratan Tata backs wearables startup GOQii

By Priya Prasad

  • 04 Oct 2016
Ratan Tata backs wearables startup GOQii
Other | Credit: Reuters

GOQii Inc, a wearable devices startup launched by Vishal Gondal, who has earlier founded Indiagames, has secured an undisclosed amount of funding from Ratan Tata, chairman emeritus of Tata Sons Ltd. The development was reported by the Press Trust of India on Monday.

An email query sent to GOQii did not elicit a response at the time of filing this report.

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In November, GOQii raised $13.4 million (Rs 90 crore) in a Series A funding led by global venture capital firm New Enterprise Associates (NEA). The round also saw participation from China's Cheetah Mobile, Great Wall Club, and existing early-stage investor DSG Consumer Partners and other angel investors.

Established in 2013 by Vishal Gondal, the California-headquartered company has offices in Mumbai and Shenzhen (China). It offers a combination of wearable technology, expert-led personalised coaching and elements of social philanthropy (karma) to enable its users to lead healthier lives.

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Since retiring as the head of the Tata Group in 2012, Ratan Tata has backed over 35 startups across sectors such as healthcare, fashion, clean energy and social enterprise, and the number keeps rising. He was the top angel investor in 2015 and also in the first half of this year. 

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Tata’s most recent investments were in food tech startup Idea Chakki in September, and in June, he backed gaming startup MadRat and mobile security startup Appknox in August.

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