Healthtech startup GOQii bags $30m Series B funding from Mitsui

It will expand into Japan next year.

Indian healthcare platform GOQii raised $30m in Series B funding from Japanese conglomerate Mitsui & Co., the group revealed in a statement.

The round also saw the addition of several new investors including blockchain merchant bank Galaxy Digital, through its Galaxy EOS VC Fund, and Denlow Investment Trust, a leading LP in several consumer and tech-focused funds globally.

Mitsui’s investment will enable GOQii to penetrate further across India and will also mark GOQii’s entry into Japan. Given its ageing population and focus on preventive healthcare, Japan is ripe for the entry of players like GOQii.

"Along with Mitsui, our goal is to be the dominant healthcare platform for millions of users globally and empower them with better lifestyle and healthcare solutions. There are several areas of potential collaboration and our respective teams will drive an aggressive roadmap to deliver our goal of reimagining healthcare globally," said Vishal Gondal, CEO of GOQii.

Mitsui has one of the largest healthcare-related portfolios globally including investments spanning hospitals, pharmaceuticals, medical devices and dialysis clinics.

"As healthcare systems evolve across the globe, the addition of an online preventive healthcare platform ensures that Mitsui is present across the healthcare value chain. We are keen to develop new business and services in the Japanese preventive healthcare sector with the aim of providing further solutions to the evolving issues of today’s Japanese society," said Koji Nagatomi, COO of the Healthcare & Service Business Unit of Mitsui.

The funds will be utilized for talent and headcount addition, marketing and geographical expansion. The company will further strengthen its big data analytics & artificial intelligence platform to drive actionable insights and to provide holistic view of a user’s health.