Adding one more to his startup funding list, leading industrialist and serial investor Ratan Tata has invested in virtual fitness coaching platform, GOQii. The size of the funding was not disclosed.
The company, which is a leading player in the Indian wearables market, is backed by angel investors such as Shriram Nene and his wife and Bollywood actress Madhuri Dixit Nene and Neeraj Arora.
It offers a fitness tracker band coupled with a personal coach. The US-based company had earlier raised $13.4 million in a series A funding in November 2015.
“With the recent developments and tie-ups on the platform, the investment from Tata is a testimony to us being a defining player of services in our category making long-term impact in people’s life,” GOQii chief executive officer and founder Vishal Gondal said.
According to q recent IDC report on Indian wearables, GOQii led the market with 16.1 per cent share in the April-June quarter of this year.
Tata, chairman emeritus of Tata Sons, has invested in a number of Indian and global start-ups in his personal capacity as well as through RNT Associates, a platform for several of his initiatives and companies.
These include companies such as Snapdeal, Kaaryah, Urban Ladder, Bluestone, CarDekho, Sabse Technologies, Xiaomi, Ola, DogSpot.in, Tracxn, CashKaro, FirstCry and Teabox.