SUMMARY
A partnership with Bajaj Allianz General Insurance offers universal healthcare cover
GOQii has launched new products such as a connected treadmill and weighing scale
The fitness company has also partnered with Visa to create digital payment products
Mumbai-based healthtech app GOQii on Thursday (December 5) announced its plans to go omnichannel for the next phase of growth. With this, the GOQii CEO Vishal Gondal also introduced several new healthcare products and services.
For its retail plans, GOQii has partnered with Compuage Infocom for distribution to reach 10K stores over the next 12 months. This is in addition to GOQii’s online presence via its own platform, Amazon, Flipkart and offline presence via Croma.
In an event held in Mumbai today, Gondal unveiled the company’s new vision of “Internet of Health” by making preventive healthcare accessible with the mantra of “Level up your health”.
Among many product additions, the company’s new plans revolve a lot around insurance. Inspired by Prime Minister Narendra Modi’s pet project Ayushman Bharat, the company is working on a project codenamed ‘Ayushman India’.
For this, GOQii has partnered with Bajaj Allianz General Insurance to offer universal healthcare cover of INR 5 Lakh with benefits based on preventive health matrices. The plan is to launch this partnership in the first half of 2020.
Further, under the government’s insurance innovation sandbox announced recently, GOQii has partnered with ICICI Lombard, Bajaj Allianz, Kotak general insurance, Religare, Max Bupa, and Star health insurance to work on innovative solutions for the industry.
Gondal also talked about health meets wealth, where the company has signed partnerships with Axis Bank, ICICI Bank, Standard Chartered and Paytm. The company’s plan to work together to find solutions for customers for health and wellness. The company is also looking for such partnerships in Hong Kong and Singapore with Allianz and Standard Chartered.
In a partnership with Visa, GOQii is expanding its contactless payments services to integrate Visa payments across GOQii’s products. This association will look at exploring possibilities around digital payments and come up with innovations in contactless payments in India and abroad.
Here are the new product additions by GOQii:
- GOQii Smartwatch: At a price of around INR 7000, GOQii has launched GOQii Vital Pro, with ECG monitor, and GOQii RunGPSPro, with ECG monitor and GPS. These will be launched in March 2020
- GOQii Smart Scale: The smart scale can measure BMI, Body mineral content, muscle mass, body fat and more at a price of INR 3999. The product will be launched in January 2020
- GOQii Smart Stride treadmill: As a state of the art product, Smart Stride is a connected treadmill connected with GOQii Play, letting the trainer control and interact with the user. It had been priced at INR 25000. It can take up to 10K users live on the platform
Gondal announced that GOQii Play has over 100 Mn views, 1.5 Mn hours, with over 7500 videos, and 2.85 Mn users.
Founded in 2014, GOQii began as a smart wearable that helps people track their steps, sleep, and other physical activities, and then does more. Its smart health ecosystem integrates tools for real-time personalised coaching, an explosive high-growth health ecommerce store, scheduling health checkups, and a health locker.
It also offers a ‘GOQii Cash’ programme where healthy behaviour is rewarded with cash discounts and insurance discounts based on health management data.
The company has raised $43.4 Mn from investors such as Mitsui & Co, DSG Consumer Partners, NEA, Edelweiss Financial Services, Cheetah Mobile and more.
Vishal Gondal first ventured into the Indian startup ecosystem in the 1990s with gaming company Indiagames when he was just 16. After running the company for more than 13 years, Gondal sold Indiagames to Walt Disney for $100 Mn.
With the new product additions and various challenges lined up, the company will compete with industry leaders such as Apple with its smart products.
