India-based fitness coaching app developer Goqii has secured $13.4m in a series A round co-led by mobile tools provider Cheetah Mobile, the Economic Times reported today.
The round, co-led with venture capital firm New Enterprise Associates, also included investor group Great Wall Club and investment firm DSG Consumer Partners. It increased Goqii’s overall “risk capital” to $20m according to ET, though Goqii has not disclosed precise details of previous funding.
Goqii has signed up more than 1,000 fitness coaches across India, the US and India to its app, through which users can subscribe to access fitness and training advice. Its fitness band collects personal data from each user, which can help a trainer set a customised regimen.
The company has signed up about 100,000 users, and the presence of China-based Cheetah Mobile among its latest backers indicates China could be its next port of call. Goqii CEO Vishal Gondal told ET it is working on Mandarin content with an eye to expanding in the country.