Fitness Tech Startup GOQii To Raise INR 13 Cr From Cape Of Good Films
California-headquartered fitness technology company GOQii is looking to raise INR 13 Cr in debt from film production house Cape of Good Films. The Company has received the consent of its board members to allot four debentures to Mumbai-based Cape of Good Films, at an issue price of INR 3.25 Cr per debenture, aggregating to a total amount of INR 13 Cr.
Founded in 2014 by Vishal Gondal, GOQii began as a smart wearable that helped people track their steps, sleep, and other physical activities. Today, its Smart Fitness Tracker, powered by an integrated mobile app, consists of tools for real-time personalised coaching, a health ecommerce store, scheduling health checkups, and a health locker.
Cape of Good Films is a limited liability partnership (LLP) firm. The company’s designated partners are Vinod Kumar Arora and Rana Rakesh Pritam Parkash Bali. The production house is known for its association with Bollywood actor Akshay Kumar for several projects. In fact Akshay also had invested an undisclosed amount in GOQii for the company’s Series C round making him the brand ambassador for the company.