Paytm founder invests in GoQii Technologies

Paytm founder and CEO Vijay Shekhar Sharma has invested an undisclosed amount in fitness-tracker start-up GOQii Technologies.

GOQii, founded by angel investor and former Indiagames CEO Vishal Gondal, was incorporated in 2013. GOQii Technologies is a wholly-owned subsidiary of US-based GOQii.

"Wearables is a piping hot sector both globally and in India. Juniper Research estimates global shipments in wearables to increase to 150 million units by 2018," Sharma said.

"Add to that the health and fitness segment and we are looking at a massive opportunity. GOQii with its combination of technology, world's leading experts, coaches and karma points on a single platform is uniquely positioned to lead in it," he added.

GOQii is headquartered in California with offices in Mumbai and Shenzhen. "We are sure this collective partnership will further help accelerate our vision to build a healthier ecosystem," Gondal said.

"With the Coach Marketplace model we intend to have 1,000 coaches on board by the end of this year, offering the customers an opportunity to choose who they want to be coached by," he added.