Wearable golf tech start-up secures an ace with £415,000 investment
Shot Scope plans to use Equity Gap funding to launch golf performance tracking technology in UK and US
Scottish start-up Shot Scope has closed £415,000 investment from angel syndicate group Equity Gap, to manufacture “the world's first” wearable tech for golfers.
Scottish Investment Bank and Old College Capital; the University of Edinburgh's in-house venture capital fund, also backed the round.
Established in 2013 by electrics design engineer David Hunter, Shot Scope's patent pending technology will be able to track golfers stats automatically, collecting scores and statistics as a golfer plays to help them improve their performance.
Smaller than an average wristwatch, the technology does not require the golfer to push buttons or perform any actions that would interrupt their game with data uploaded to the Shot Scope website or mobile app where statistics and maps detailing every shot are then displayed in a graphical user interface.
It will use the investment to complete product development and begin manufacturing ahead of launch in the UK and US from January 2016. Hunter plans to manufacture the entire product in Scotland.
Describing the market opportunity for Shot Scope, Hunter commented:
“Golfers have always been obsessed with tracking performance and it is amazing that in 2015 so many golfers, even professionals, rely on data collected with paper and pen. Shot Scope changes that by automatically collecting over 50 performance indicators, allowing you to identify your most crucial areas for improvement.
“For the first time it will give amateur golfers access to the kind of game changing information that professionals can only collect with a team of helpers.”
Andrea Young, fund manager at Old College Capital, added: Shot Scope is not only developing wearable technology in an under served market with big opportunities, they are manufacturing this product here at home. A great example of what Scottish start-ups can do: make innovative Scottish products here in Scotland.”