Paytm founder Vijay Shekhar Sharma, Ratan Tata-backed startup Goqii to launch two smart devices

ZeeBiz WebTeam | Dec 07, 2018, 01:31 PM IST

Ratan Tata-backed healthcare startup Goqii will launch two new smart health devices focusing on cardiac and diabetes care by March next. The wearable devices-maker Goqii, also funded by Paytm founder Vijay Shekhar Sharma said it had raised over USD 30 million recently, led by Japanese conglomerate Mitsui & Co and will be entering the Japanese market.


"As part of our growth plans, we will be entering Japan in the second or third quarter of 2019. We will also raise more funds over the next 18 months," Goqii chief executive Vishal Gondal told PTI here Thursday. However, he declined to share the quantum of the funds the company is planning to raise. Image Source: Reuters


The company Thursday said it will be launch two smart health devices--'Goqii VitalECG' and 'Goqii VitalGluco' focusing on cardiac and diabetes care, by next March. Image Source: Reuters


As per the IDC data, Goqii continues to hold the second position in the domestic wearables market with 47 percent year-over-year growth and 19 percent market share in Q3 of 2018. The non-intrusive device to monitor blood sugar levels will take a few more years to develop, Gondal said, adding mental health will be a future focus for the company. Image Source: Reuters


Apart from Tata and Sharma, Goqii also counts marquee investors like Mitsui, NEA, Megadelta, DSG Consumer Partners, Galaxy Digital, Denlow Investment Trust, Edelweiss, Cheetah Mobile, and GWC among others. Image Source: Reuters


The company aims to have 10 million users from in the next two years in the country and expects to close this year a little less than 1 million users. Image Source: Reuters