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GOQii raises funds from Mitsui & Co in a Series B round, to enter Japan

Wearables and fitness tracker startup GOQii will now enter Japan, with a Series B funding round led by Japanese company Mitsui & Co, along with blockchain-centric merchant bank Galaxy Digital, and Denlow Investment Trust. Existing investors NEA, DSG Consumer Partners, Paytm CEO Vijay Shekhar Sharma and Ratan Tata also participated in the round; Trifecta Capital provided debt fund. The company did not disclose the amount of funding, but an ET report pegs it to be between $30-35 million. Apart from the Japan expansion, the funding will also be used to expand further in India, to hire more people, and marketing. The company will also work on its big data analytics and AI. Japan is a potential market for GOQii as it has a rapidly ageing population, according to a statement. GOQii offers two fitness bands, one for tracking heart rate, and another…

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