Golf know-how agency, Shot Scope, has raised $8.5m in a Collection B funding spherical led by Guinness Ventures which invested $4m.
The funding spherical additionally included funding from key members; Scottish Enterprise, Growthdeck, The SideBySide Partnership, and Edinburgh primarily based Fairness Hole, alongside Virgin Cash offering $1.9m debt finance as a part of the funding spherical.
David Hunter, CEO and Founder, Shot Scope, stated: “This investment accelerates our mission to deliver game improvement technology to 60 million golfers around the world. Throughout 2024 we plan to invest in infrastructure across the USA to support our retail and distribution partners. Golfers globally love our GPS, rangefinder and shot tracking technology, having sold products in 160 different countries worldwide in 2023. Golf has experienced a huge change in the past 5 years, people of all ages and demographics love the sport. With Shot Scope golfers can improve quickly and enjoy the game they love even more.”
By way of this Collection B spherical of funding, Shot Scope will convey its subscription-free, game-enhancing, know-how akin to GPS wearables, laser rangefinders, and shot monitoring gadgets to golfers across the globe providing extra in-depth efficiency analytics. Accompanied with Shot Scope’s cell app and internet dashboard, the organisation supplies golfers with all of the instruments to allow them to have a extra participating expertise and the power to enhance their abilities.
Adam Barker, Guinness Ventures, added: “Shot Scope’s innovative product and software suite is meeting strong market demand, positioning the company for significant expansion both domestically and internationally. As lead investor, we are thrilled to further support Shot Scope at this inflection point and to continue being a part of its exciting growth journey”.
Shot Scope, based in Scotland (the House of Golf) by CEO David Hunter, has grow to be a trusted model within the UK with key shopping for teams, inexperienced grass retailers, and professional retailers welcoming the model into their networks. With Shot Scope merchandise available throughout the UK, the organisation seems to ascertain the identical belief worldwide.
As a part of the growth, Shot Scope is relocating to a brand new headquarters on the outskirts of Edinburgh to accommodate the rising crew of selling, gross sales, and customer support consultants. The brand new web site will assist Shot Scope’s formidable plans to scale operations and ship game-changing know-how to a worldwide viewers sooner or later.
Shot Scope merchandise are already obtainable within the largest retailers within the US together with Dick’s Sporting Items and PGA Tour Superstore. The model continues to develop because the enterprise features traction with inexperienced grass retailers in varied states. Equally, partnering with PGA of America’s Golf Retirement Plus program™ and TROON Golf Community has additional developed Shot Scope’s presence and credibility throughout the US golf trade.
Shot Scope has established a presence in Europe, Australia, and New Zealand with retailers together with Dormy, Golfbox, Golf Warehouse, and PGC Group stocking their game-enhancing know-how and serving to golfers enhance their sport.
Supplementing the bodily merchandise, Shot Scope’s cell app and internet dashboard is dwelling to a plethora of free-to-access options for its customers. Options embody aerial GPS maps on over 36,000 programs worldwide, over 100 tour stage efficiency statistics and MyStrategy – the information pushed technique builder.
Christopher Kennedy, Director of Enterprise Debt at Virgin Cash, stated “Shot Scope is an established leading technology business within the golf market and has been a valued customer within our venture debt portfolio of high-tech businesses for the last three years. Over that period we have built a strong relationship with the team at Shot Scope and we are pleased to provide this follow on funding as the business continues to grow. It’s exciting to see what the future holds as Shot Scope’s expanded suite of products increases further in popularity in markets across the world.”
Kerry Sharp, director of Entrepreneurship and Funding at Scottish Enterprise, stated, “Shot Scope continues to reach impressive milestones with its innovative golf technology. As a longstanding investor, we’re excited to see the company make progress towards its global scaling ambitions.”
