US-based, wearable and preventive healthcare solutions firm Goqii, is gearing up to double its paid user base to one million by March and 10 million in two years.

To achieve this, the Ratan Tata backed firm is focussing on building solutions for disease management. Having raised a total of $13.4 million since its inception four years ago, Goqii is in the market to raise $20 million.

In pole position with a 20.8 per cent market share in India, as per IDC’s quarterly Wearable Tracker Report, Goqii recently launched its third generation wearable band — Goqii Vital, that has a heart-rate sensor and an in-built blood pressure monitor that comes up with a reading in one minute.

Its colour OLED touch screen display helps track user’s step count, distance covered, time taken, calories burnt and sleep details.

The sports mode tracks the user’s status while running, cycling and work out.

Users can link the Goqii tracker band with the Goqii App on their smartphone via Bluetooth to sync tracker readings with the App.

“Contrary to popular perception, Goqii, which means ‘Be the Force’ is a preventive healthcare solutions firm that goes beyond devices such as Garmin, Apple or a Fitbit” said Vishal Gondal, founder CEO, Goqii Inc.

The Goqii app can be integrated with over 30 major fitness bands including Fitbit, Garmin, Jawbone, Misfit and Sony.

“Till recently, we only focussed on building solutions for non-sick people. Our next big focus areais diseases such as diabetes and cardiac ailments, which is a huge market to tap as India has 30 million diabetics and one-third of Indians are prone to cardiac ailments. Our solution for hypertension is already live with Goqii Vital. However, it is not a medical device but a screening device with 90-95 per cent accuracy, therefore, patients with hypertension should consult a doctor first” he said. The company does not charge for the device. Users are charged subscription fees for quarterly (₹3,499), half yearly (₹4,999) and annual plans (₹5,999) that offer a bunch of services such as personal health coaching, tele-consultation with doctors and health experts, second opinion on medical reports and consultations for family members.

Partnerships

Goqii has partnered with insurance firms such as Max Bupa to offer users insurance plans with reduced premium up to 20 per cent.

“Once you fix your health goals, you can consult our network of over 1,000 doctors, health coaches and experts; book diagnostic tests, genetic tests from within our app and store the results in the Digital Health Locker which can be accessed by users and doctors anytime, buy supplements and health foods from our recently launched Goqii Health Store, get access to Goqii Play, where users can participate in live coaching sessions for emotional and physical wellness.” said Gondal, who founded game development and publishing firm Indiagames at 16 and later sold it to Walt Disney for around $100 million.

Asked how he intends to hit 10-million paid users in two years, he said, “We will be closing a fund raise of over $20 million in the next couple of months, that will help us scale our paid user base.”

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